April 20, 2024 14:23 (IST)
Follow us:
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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Love jihad is spreading: Karnataka Congress corporator, whose daughter was killed, contradicts Siddaramaiah's claims Sat, Apr 20 2024
Karnataka Congress corporator's daughter killed; CM Siddaramaiah cites 'personal reasons' Sat, Apr 20 2024
Indian-origin man Banmeet Singh sentenced to five years in prison in US for selling controlled substances on dark web marketplaces Sat, Apr 20 2024
'Had mangoes only three thrice, sweets 6 times in jail': Arvind Kejriwal counters ED claims in court Sat, Apr 20 2024
'Great response, people voting for NDA in record numbers': PM Modi on first phase turnout Fri, Apr 19 2024
'Opposition got donations through bonds, is that extortion as well?' Amit Shah slams Rahul Gandhi Fri, Apr 19 2024
Millions of Indians vote in the biggest phase of Lok Sabha polls, 60.03 pct turnout recorded Fri, Apr 19 2024
India votes in first phase of Lok Sabha elections, approximately 60 percent voting recorded across 102 seats till 5pm Fri, Apr 19 2024
DRDO hands over first batch of Leading Edge Actuators, Airbrake Control Module to HAL for LCA Tejas Mk1A Fri, Apr 19 2024
West Bengal records 66.4 pct voting in first phase till 3 pm Fri, Apr 19 2024