Even as Enforcement Directorate is preparing legal grounds for revoking Vijay Mallya’s passport, CBI is in the process of sending judicial requests to at least five countries, including the US and the UK, to seek information about alleged diversion of loans received by now defunct Kingfisher Airlines from IDBI Bank.
Sources reveal that the move has been prompted by “good inputs” received from Financial Intelligence Unit on the transactions of Mallya-owned Kingfisher Airlines.
They said so far the agency has prepared Letters Rogatory—judicial requests — to be sent to the United Kingdom, the US, Hong Kong, France and Switzerland.
They said, as the probe progresses, the agency will start approaching some other countries for information about transactions and remittances made by the airlines which are under CBI scanner.
CBI suspects that a “major chunk” of the Rs 950 crore loans taken from the IDBI Bank, which was transferred to Axis Bank, was used as foreign remittances towards lease rentals, and for purchase of aircraft parts.
“Since these remittances have gone outside the country, further inquiry can only be made by LRs for foreign investigation by taking up a regular case,” inspector Varsha Verma had recommended after completing her preliminary inquiry into the matter on July 28, 2015.