Liquor baron Vijay Mallya may be in deeper trouble as the CBI is likely to register more FIRs and slap more charges against him and his defunct company Kingfisher Airlines for alleged diversion of bank loans.
According to a report in the Times of India, loans worth Rs 4,000 crore from 11 banks are under the CBI's scanner even as the investigation agency alleged that Mallya's company diverted about Rs 1,300 crore to places like Cayman Island and Mauritius to evade tax.
The banks that are under scrutiny, will have to explain how they gave a loan to the now defunct airline, while their own internal reports had suggested against the move.
These reports come after the CBI on Saturday searched the office and residence of the liquor baron for an alleged loan default of a Rs 900 crore.
Search operations were conducted at Mallya’s office and residence at UB City in Bengaluru till late in the evening and reports indicate that several documents that had been found during the searches and were being scrutinized.
A CBI spokesperson also told TOI that the investigation is in the initial stage and the agency will soon approach some countries seeking details of these companies and money transfers.