Vijay Mallya is now suspected to have diverted Rs 4,000 Cr loan taken from Indian banks to tax havens like Cayman Island and Mauritius.
We have already reported that Mallya has announced his exit from the Diageo-controlled United Spirits Ltd (USL) board with a staggering deal of over Rs 500 Cr and decided to settle in the UK.
Now, investigative agencies think that he is trying to escape the tax and loan issues. Mallya is already under the scanner of agencies for defaulting loans from a consortium of banks to the tune of Rs 7000 Cr.
SBI’s forensic Audit found that out of the Rs 7,000 Cr loan raised by Mallya from all banks put together, Rs 4,000 Cr has been smoothly diverted Kingfisher airlines. CBI is currently probing the discrepancies in this Rs 4000 Cr scam.
It has also come to light that the Enforcement Directorate (ED) has already launched a preliminary enquiry against Mallya under the anti-Money Laundering laws ensuring that he does not escape to countries from where deportation becomes tough.
