Vijay Mallya Scam

By- Rhea, Bhumi, Vishwa, Darsh, Vivek

& Siddh
Introduction
 Kingfisher Airlines

1. Charged Low prices, offered premium services

2. Acquired Air Deccan for Rs 1000 crores

3. Kingfisher made losses worth Rs 8200 Crores

4. Not depositing service taxes

5. Increase in fuel prices and taxes

Downfall

1. Banks Approving Loan in 2010

2. Mallya’s Deal with Diago settled for Rs 2400 crores

3. IDBI bank did not mortgage the collateral against

the loan

4. Made a profit of $5.5 million from the purchase of

over 600,000 shares and sale of over 400,000 shares

of USL in May 2007, through 6 different accounts.

Diversion Of Loan Funds

1. Rs 3,432.40 crore - “Over-Invoicing” of lease rentals of aircraft

2. Rs 45.42 crore - Making payment towards the rental lease of a corporate jet used

“exclusively” by Mallya

3. Rs 50.90 crore - To the Force India Formula One team controlled by Mallya

4. Rs 15.90 crore - IPL cricket team Royal Challengers Bangalore

5. Rs 2.80 crore - ICICI Bank as repayment of an earlier loan to Kingfisher Airlines

List Of the Banks
Timeline
What Next?
1. In February 2019, UK Home Secretary approved the extradition.

2. Appeal against the order has been listed for a three-day hearing from February 11, 2020.
Thank You