ED has expanded ambit of the probe and will also investigate alleged default of loans of Rs 6,027 crores. ED sleuths, they said, will have an active cooperation with the CBI to take the criminal probe under various sections of IPC, Prevention of Corruption Act and PMLA forward. Both the central probe agencies had earlier filed a case of alleged loan default by the now-defunct KFA to IDBI Bank. ED has already attached his properties worth about Rs 1,411 crore under PMLA in this case a few months ago. Mallya and others are alleged to have diverted a part of the loan to some of their offshore businesses.

Source: dna August 17, 2016 15:45 UTC