Mallya diverted Rs 3,700cr loan to F1, IPL and for private jet sorties: ED

The Enforcement Directorate on Monday charged embattled liquor baron Vijay Mallya and his two firms for fraudulently "diverting" over Rs 3,700 crore bank loan funds to a UK-based F1 motorsport firm, a T20 IPL team, and for enjoying private jet sorties.

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