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'Vijay Mallya Used IDBI Loan For Kingfisher To Fund Formula 1 Race Team'

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  • Published On: June 14, 2017
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Business tycoon Vijay Mallya was "the prime mover in the plot" to launder a big chunk of the 900 crore-bank loan taken to keep Kingfisher Airlines flying in 2009 and had used part of the IDBI bank loan to even fund the Force India Formula 1 Team, the Enforcement Directorate has alleged in charges filed in a Mumbai court on Wednesday.
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