Vijay Mallya used RCB team for 'Money Laundering' purposes
The ED also filed a charge sheet and he is likely to be declared as a fugitive under the new Indian law. This charge sheet was filed based on a complaint they have received from the State Bank of India as Vijay Mallya caused them a loss of Rs.6027 Crores by not repaying them.
He took the loans during the period 2005-10. The Enforcement Directorate also claimed that Vijay Mallya was involved in Money Laundering through his sports-based franchises. Apart from these, he also projected his brand value of Airlines to high price as a collateral despite the Airline is suffering from deficiencies.