Mumbai, September 22
A particular CBI courtroom in Mumbai has issued a Letter of Request to the United States for aiding the Central Bureau of Investigation in its probe right into a multi- crore financial institution fraud case towards Vijay Mallya.
Special courtroom decide Jayendra C Jagdale issued the Letter of Request (LoR) on Monday after the CBI filed an software for a similar.
The Central Bureau of Investigation mentioned it wanted some new proof from the United States and permission from the US Attorney normal to be used of some proof that the CBI already has acquired from the US.
An LoR is a proper communication despatched in writing by a courtroom to a international courtroom or involved judicial authority in instances the place probe or judicial proceedings are pending.
The CBI not too long ago approached the particular courtroom right here for issuance of LoR to conduct a probe to establish utilisation of funds acquired within the US-based financial institution accounts of Mallya and now defunct Kingfisher Airlines (KAL).
The probe company had additionally prayed for amassing proof pertaining to those financial institution accounts.
The CBI instructed the courtroom their probe in India has revealed that after availing loans from the IDBI Bank, the State Bank of India and different consortium of banks, the accused diverted the sanctioned quantities for functions aside from these avowed to the banks.
Giving a selected instance, the CBI mentioned an combination quantity of Rs 263.08 crore, out of loans availed from IDBI Bank in 2009, was diverted for functions like cost of TDS overdues, lease leases of company jet utilized by Mallya privately, cost of salaries and others.
Citing one other occasion, the probe company mentioned a diversion of Rs 15.90 crore to Royal Challengers Sports Private Limited, a Bengaluru-based based mostly IPL Team, from proceeds of SBI mortgage in May 2009 has additionally surfaced.
Similarly, there are vital diversions to associated events, associates and entities like Force India Formula One staff, it mentioned.
It additional submitted that there are different giant scale switch of funds from loans availed by KAL to its personal USA/abroad accounts.
Thus, there are causes to imagine that the loans availed from Indian banks had been diverted in another country and invested by Mallya in a number of abroad corporations based mostly in USA and different international locations, the CBI mentioned.
The funds mendacity in such accounts are proceeds of crime, it added.
Accepting CBI’s submissions, decide Jagdale on Monday ordered issuance of LoR to the Attorney General, Washington DC, for conducting probe and offering proof with regard to the accounts related to Mallya and KAL.
The case towards Mallya pertains to an alleged fraud of Rs 900 crore within the IDBI Bank.
The embattled liquor baron additionally faces probe in one other case associated to alleged fraud amounting of greater than Rs 9,000 crore in a consortium of banks led by the State Bank of India.