According to the CBI’s supplementary chargesheet, which was filed in court, troubled businessman Vijay Mallya purchased properties in England and France valued at Rs 330 crore during the 2015–16 period despite the fact that his Kingfisher Airlines was experiencing financial difficulties at the time and banks had not been able to recover the loans that the spirits baron had defaulted on. Mallya is one of the defendants in the Central Bureau of Investigation’s investigation into the alleged over Rs 900 crore IDBI Bank-Kingfisher Airlines loan fraud (CBI). At a special CBI court in this location, the central agency recently filed a supplemental chargesheet. In its most recent additional chargesheet, the investigation agency has added Buddhadev Dasgupta, a former general manager of IDBI Bank, in addition to the 11 other accused people identified in the preceding chargesheets. Under the provisions of the Fugitive Economic Offenders Act, once a person is declared a fugitive economic offender, the prosecuting agency has the powers to confiscate his property.
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