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CBI probes Rs. 900 cr loan given to Kingfisher Airlines by IDBI

| | Aug 10, 2014, at 07:43 pm
#CBI probes Rs. 900 cr loan given to Kingfisher Airlines by IDBI
New Delhi, Aug 10 (IBNS): The Central Bureau of Investigation (CBI) on Sunday started a probe into Rs 900 crore loan given by the IDBI Bank to the now defunct Kingfisher Airlines, reports said.
The loan was given in 2009 despite an internal bank report stated that the aviation company's financial position was unsatisfactory .
 
The report was reportedly prepared by the bank in November 2009 on Kingfisher's request for a loan of Rs 150 crore for six months.
 
The CBI will now probe why the bank took the risk despite its own report. 
 
The probe agency is also likely to examine UB Group Chairman Vijay Mallya.
 

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