The CBI alleges in its supplementary chargesheet submitted to a court here that Vijay Mallya bought properties in England and France worth Rs. 330 crore in 2015–16 despite the fact that his Kingfisher Airlines was experiencing financial difficulties at the time and banks had not been able to recover the loans the liquor baron had defaulted on. 
Mallya is one of the defendants in the CBI's investigation into the alleged over Rs. 900 billion IDBI Bank-Kingfisher Airlines loan fraud.

A new supplemental chargesheet was just presented to this special CBI court by the CBI. In its most recent additional chargesheet, the investigation agency has added Buddhadev Dasgupta, a former general manager of IDBI Bank, in addition to the 11 other accused people identified in the preceding chargesheets.

 The investigation agency claimed that Dasgupta colluded with IDBI Bank officials and Vijay Mallya in October 2009 about the approval and disbursement of a short-term loan (STL) of Rs.150 crore by misusing his position of authority. The credit committee members' suggestion stated that the credit committee members will adjust or repay the mentioned loan of Rs. 150 crore from the total loan of Rs. 750 crore that the airlines had initially requested.

The proposal was altered after it was distributed to reflect that the credit committee had viewed this as a separate loan that could (or might not) be amended or recovered from the total loan. The chargesheet stated that IDBI Bank's exposure was to be limited to an overall sum of Rs. 750 crore, but in December 2009, it increased to Rs. 900 crore due to the STL of Rs. 150 crore being held as a separate loan, largely at Dasgupta's request. 

According to the CBI court's approval, letters rogatory (LRs) were sent during the course of the inquiry to the USA, Switzerland, Mauritius, the UK, and the USA. By letters rogatory, courts in one nation ask courts in another to aid in the administration of justice there. The evidence gathered during overseas investigations from these countries was mentioned in the chargesheet.

"The properties in the UK (Ladywalk in 2015–16 for GBP 12–13 million or Rs.80 crore) and France ('Le Grand Jardin' in 2008 for Euro 35 million or Rs.250 crore approximately) were acquired by Mallya even as Kingfisher Airlines was facing a severe cash shortage (2008) and the lenders were yet to recover the loans defaulted by Mallya and the Airlines (2015–16)," it said. 

Mallya was allegedly in possession of sufficient funds between 2008 and 2016–17, the chargesheet said, but none of them were used to support the airlines as equity infusion or to fulfil his obligations as a personal guarantor for the debts KAL took out from IDBI and other Indian banks.

As per chargesheet, significant sums were moved to the Force India Formula 1 Team between 2008 and 2012, according to the evidence gathered by LRs. According to the chargesheet, a sizable sum was also diverted from 2007 to 2012–2013 and used to pay for the purchase and debt repayment of Mallya's personal use corporate plane. In addition to the CBI, the Enforcement Directorate (ED) is looking into a Mallya money laundering case.

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