Once the charge sheet by the ED is filed, it will go on to strengthen India’s extradition request against Mallya from the UK even as the CBI charge sheet has already paved the way for his handover, they said.
In its probe report prepared in this case, accessed by Press Trust of India, the agency had said, “The money trail analysis revealed that out of the loan of Rs 860.92 crore, sanctioned and disbursed by IDBI, Rs 423 crore has been remitted out of India. The said payments were shown to be made towards aircraft rental leasing and maintenance, servicing and spare parts.”
The investigations conducted so far, it said, found KFA along with IDBI bank officials “criminally conspired to obtain funds to the tune of Rs 860.92 crore despite weak financials, negative net-worth, non-compliance of corporate credit policy of new client, non-quality collateral security and low credit rating of the borrower, out of which Rs 807.82 crore of principal amount remains unpaid”.
 is set to file its first charge sheet in the Vijay Mallya-IDBI bank alleged loan default money laundering case){kind=link}