Also the bankers waived requirement for additional security while advancing this loan, the charge sheet said.One indication of the dilution was that liquor baron. While his statement of assets in respect of an earlier term loan gave Rs 1,395 crore as his net worth on March 31st 2009, at the time of offering a personal guarantee his net worth was shown as only Rs 285 crore. In the post sanction stage, the charge sheet states that the officials relaxed the pre-disbursement and security creation condition. The charge sheet quotes an email where Mallya informs his chief finance office that IDBI Bank cannot be given additional shares as they are part of the same consortium and will be entitled to the same securities as other banks. He also said that the first loan of Rs 150 crore was outside the consortium and would be repaid on maturity.

Source: Times of India January 27, 2017 23:18 UTC