CBI files charge sheet in Kingfisher case

In a significant development in the bunch of cases against the founder of the now-defunct Kingfisher Airlines and liquor baron Vijay Mallya, the Central Bureau of Investigation (CBI) on Tuesday filed its charge sheet against nine people, including a former chairman of IDBI Bank, for suspected involvement in a loan fraud.

Once known as the ‘King of Good Times’, Mallya — who had been declared a proclaimed offender by the court with process to get him back from the UK underway — has been shown as a wanted accused.

The charge sheet — that runs over 1,000 pages — was filed before Additional Sessions Judge H S Mahajan, who presides over a special CBI court.

The suspects were charged with 120B (criminal conspiracy), 420 (cheating) of the Indian Penal code and section 13(1)(D) of Prevention of Corruption Act.

The CBI on Monday night arrested former IDBI Bank chairman Yogesh Aggarwal along with four former executives of Kingfisher Airlines, including former CFO A Raghunathan. The CBI court also remanded all the suspects in judicial custody till February 7.

According to the CBI, Aggarwal approved the loans and also instructed to expedite the ratings while finalising the loans to Kingfisher Airlines of over Rs 900 crore.

Ahead of the arrests, 11 places including Mallya’s residence in New Delhi, three floors of UB towers in Bengaluru and residences of Aggarwal and Raghunathan were searched.

Senior counsel Amit Desai and counsel Rajiv Chavan representing the suspects, sought interim bail. However, CBI prosecutor Bharat Badami asked time till Monday to file the agency’s reply to the bail application.
DH News Service