Vijay Mallya is an accused in the Rs 900 crore IDBI -Kingfisher Airlines loan fraud case that is being probed by the Central Bureau of Investigation. The CBI claims that Mallya bought properties worth Rs 330 crore in England and France at the time his Kingfisher Airlines was facing a financial crunch.
The CBI recently filed a supplementary chargesheet before a special CBI court. Along with the 11 accused in the earlier chargesheets, the CBI has added the name of Buddhadev Dasgupta, former general manager of IDBI Bank.
The CBI has alleged that Dasgupta conspired with Vijay Mallya and officers of IDBI Bank in the matter of sanction and disbursement of a short term loan of Rs 150 crore in October 2009. It also claimed that Mallya had adequate funds between 2008 and 2016 as he purchased properties worth Rs 330 crore during that period but did not use the funds to support his Kingfisher Airlines that was facing a severe cash crunch.