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Mallya gifted $40 million to his children, funnelled Rs 3200 crore

Mallya gifted $40 million to his children, funnelled Rs 3200 crore

Wednesday, April 19, 2017, 3:26 PM

Vijay Mallya from the UK is built around irregularities in the Rs 950 crore IDBI Bank loan to Kingfisher Airlines (KFA) and evidence about alleged illegal overseas fund funneling of more than Rs 3,200 crore. The ED, has gathered substantial evidence on how a major portion of bank loans given to KFA was moved outside India cloaked as operational expenses or lease rentals, sources told
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