CBI charges Vijay Mallya, others in Kingfisher Airlines-IDBI bank loan case

The CBI on Tuesday submitted a 1,000-page chargesheeet against Vijay Mallya and others in the Kingfisher Airline-IDBI loan case alleging a loss of Rs 1,300 crore to the bank of public funds by virtue of granting loans without following proper procedures.

The chargesheet says that Kingfisher Airlines managed to get loan in collusion with IDBI officials and diverted a part of the loan for “personal use.”

It seeks to make out a case of “omissions and commissions” caused by the bank officials including ex-IDBI Bank chairman Yogesh Agarwal.

The chargesheet invokes sections 120B (criminal conspiracy), 420 (cheating) of IPC and section 13(1)(D) of Prevention of Corruption Act.