ED Claims That Vijay Mallya Diverted The Loan Funds

June 19, 2018 09:35
ED Claims That Vijay Mallya Diverted The Loan Funds

(Image source from: Ndtv.com)

ED Claims That Vijay Mallya Diverted The Loan Funds:- Liquor baron Vijay Mallya flew from the country after he owes Rs 9000 crores to Indian banks. The Enforcement Directorate (ED) alleged that Vijay Mallya diverted Rs 3547 crores of loan funds and his full assets haven't been produced. In a special chargesheet filed in a Mumbai court, the ED said that Mallya didnot disclose his complete assets while executing a personal guarantee agreement.

Vijay Mallya showed his total assets as Rs 1395 crores while ED identified them to be Rs 3164.65 crores in 2010. Vijay Mallya has invested huge in UK, USA, France and other countried claimed ED. His overseas properties have not been mentioned in his assets and they have been hidden from the banks. ED also listed five instances in which the loan funds have been diverted from Kingfisher Airlines. ED also revealed that the total dues left unpaid by Vijay Mallya is Rs 9990.07 crores.


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Tagged Under :
Vijay Mallya  Indian Banks