The Central Bureau of Investigation has registered a new case against businessman Vijay Mallya, Kingfisher Airlines, United Breweries Holding Limited and others, for allegedly causing a loss of
£602.70 million to a consortium of banks.
The group has lodged a complaint with the CBI to initiate criminal action against him. They had earlier initiated debt recovery proceedings against him in the court and even approached the Supreme Court. The complaint says that Kingfisher Airlines availed of credit facilities between 2005 and 2010, but allegedly failed to keep up with the repayment of the loans after since 2009. "The banks had not kept the accounts with the consortium banks regular, owing to which the loans were finally declared NPA," a CBI official said. The banks have alleged that there is a conspiracy by the group company, its promoter and others to cheat them.
