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The extradition request, officials said, had to be issued as Mallya didn’t respond to requests by the CBI and the ED to join investigations over the last 11 months. The CBI chargesheet last month said undue favours were shown to KFA in sanctioning and disbursal of loans of Rs 1,300 crore and there were many acts of omission and commission on the part of IDBI Bank officials in the process.
“About Rs 260 crore of the borrowed amount was diverted by KFA, while Rs 263 crore was used to pay salaries, TDS, income tax and loan instalments. A part of the loan amount was also diverted by Mallya for his personal expenses,” the CBI chargesheet said.
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(Sourced from agencies, feature image courtesy:luxpresso.com)
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