CBI Invokes Cheating Charges On Vijay Mallaya

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6:35 pm 18 Mar, 2016

Bringing more trouble to business tycoon Vijay Mallya, the Central Bureau of Investigation (CBI) has decided to invoke allegation of cheating against him, Kingfisher Airlines and all those who are alleged in Rs 900-crore IDBI Bank loan willful default case.

Besides invoking cheating charges, the agency also decided to probe into over 5 lakh financial transactions that have taken place from the company since 2004.



The CBI last year had also a registered a case of ‘criminal breach of trust’ against Mallya’s Kingfisher Airlines and a case of ‘criminal conspiracy’ against unknown IDBI officials pertaining to abuse of office.



A senior CBI official said:

“Apart from corruption, criminal conspiracy and breach of trust, cheating charges are also being pressed against the accused, given that they allegedly defrauded the bank of the loan amount.”

The CBI also indicated that they are aware of the current whereabouts of Mallya, and that they have expanded the scope of the probe to the loans of over Rs. 7,000 crore taken by Kingfisher Airlines from 17 banks.

It must be noted though that none of the banks has till now filed a complaint with the CBI seeking their action.



In relation to the company’s over 5 lakh transactions, the CBI has put at least four countries under scrutiny and also asked these countries for details with regards to these transactions.

The agency is also treading this case cautiously as the IDBI loan was sanctioned for a wide range of purposes and thus many of the transactions could be legal.

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