Mumbai: The Central Bureau of Investigation submitted a detailed charge-sheet against absconding liquor baron Vijay Mallya and others in the Rs 1,300 crore loan default involving the defunct Kingfisher Airlines and IDBI here on Tuesday, an official said.
The 1,000-plus page charge-sheet has alleged the losses to the public sector bank by virtue of sanctioning loans to Mallya’s airlines without following proper procedures.
The loans of Rs 750 crore, Rs 200 crore and Rs 150 crore pertained to repayment of pending aircraft dues and party repayment of loans owed to another public sector bank.
It has said the airlines managed to secure the loans in collusion with IDBI officials and part of the loan was diverted for “personal uses”.
The CBI has accused “omissions and commissions” on the part of the bank officials, including its former chairman Yogesh Agarwal, and said the loans were sanctioned despite poor credit ratings and falling financial health of the airline.
The CBI said that further investigations are on in the case and a non-bailable arrest warrant against Mallya has been issued which was in the process of being executed.
Besides, it has sent letters rogatory to Singapore and British Virgin Islands to find out the details of the bank accounts of Kingfisher Airlines in those countries.
The CBI also produced former IDBI chief Yogesh Agarwal, who was arrested from New Delhi on Monday, and others before the Special CBI Court and they were remanded to custody till February 7.
Seeking their custody, the CBI said they are influential persons who may flee the country like the “absconder accused” Mallya who had already fled, and may tamper with the evidences.
The CBI has invoked various sections of Indian Penal Code and Prevention of Corruption Act against all the accused, who have applied for bail.
Senior Counsel Amit Desai and lawyer Rajiv Chavan representing the accused sought interim bail for their clients.
The CBI prosecutor Bharat Badami asked time till Monday to file the agency’s reply to the bail application. The Special Court fixed January 30 as the date for the next hearing.