India's CBI seeks Kingfisher's Mallya
- BTN News
- Wednesday, 25 January 2017
India's Central Bureau of Investigation (CBI) has submitted a 1,000-page charge sheeet against Vijay Mallya and others in the Kingfisher Airline-Industrial Development Bank of India (IDBI) loan case.
The charge sheet says Kingfisher Airlines and IDBI officials colluded to divert a part of the loan for "personal use" and seeks to make a case of "omissions and commissions" against bank officials.
It alleges breaches of sections 120B (criminal conspiracy), 420 (cheating) of IPC and section 13(1)(D) of the Prevention of Corruption Act.
All the accused except Mallya are in judicial custody and all have sought bail.
A non-bailable warrant against head of downed airline Kingfisher Vijay Mallya has been issued. Mallya is believed to be overseas.