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Indian tycoon Vijay Mallya faces second charge sheet on alleged diversion of $921.5 million loan

( September 26, 2017, 05:50 GMT | Insight) -- India's Enforcement Directorate is working on a second charge sheet against businessman Vijay Mallya to include new money-laundering allegations and the recent identification of some 30 shell companies allegedly used, Live Mint reports. India's Enforcement Directorate is working on a second charge sheet against businessman Vijay Mallya to include new money-laundering allegations and the recent identification of some 30 shell companies allegedly used, Live Mint reports. The first charge sheet pertained to the alleged diversion of a 9 billion rupee ($138.2 million) loan given to Mallya's now-defunct Kingfisher Airlines. The new charge sheet is related to the significantly larger sum of 60 billion rupees ($921.5 million), borrowed from a consortium of lenders led by State Bank of India, which was allegedly diverted through shell companies in several countries. Mallya has been self-exiled since March 2016 in the UK, where an extradition case against him is still being heard....

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