The Enforcement Directorate (ED) has registered a case of money laundering💵 against prominent businessman👔 Vijay Mallya. Mallya was charged together with and an executive officer of now-defunct Kingfisher airlines✈ on the basis of a CBI report🔍 that alleged wilful default of a loan of ₹900 crores💰 in conspiracy with IDBI Bank officials🏦. CBI found that IDBI Bank had issued him a loan of ₹900 crores despite a negative✋ internal audit report on the same. The report📝 cited the inability of his company to repay loans to the tune of ₹7000 crores to a consortium of 17 banks (of which IDBI was also a part)😱.
Karnataka High Court had recently issued a notice📋 to Mallya and nine others on a petition by SBI and 12 other banks seeking his arrest⛓.
🔍 To know more about Vijay Mallya, type: wiki mallya
Original Image Credit: IANS