Mumbai: State-run lender IDBI Bank Ltd said on Tuesday it is not being investigated by the Central Bureau of Investigation (CBI) over a Rs 950-crore loan to the now-grounded carrier Kingfisher Airlines Ltd.
The CBI has launched an initial probe over the Rs 950 crore alleged loan given by IDBI Bank to the airline, a spokeswoman for the agency said on Saturday.
“The preliminary enquiry initiated by CBI a few months ago is against the borrower…and not against IDBI Bank, as reported in the media,” the lender said in a stock exchange filing.
“The Bank has been providing all the information and documents sought by the agency in the matter and will continue to extend full assistance to the agency in the said enquiry,” it said.
IDBI Bank CMD M S Raghavan on Monday had said, the loan was given when the Kingfisher Airlines was doing well and some particulars on this have already been submitted to the investigating agency.
“The loan was given in 2008-09 when the airline was in a good condition and doing well… our credit committee had also approved it,” Raghavan had told reporters in Bhubaneswar.
12/08/14 Indian Express
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The CBI has launched an initial probe over the Rs 950 crore alleged loan given by IDBI Bank to the airline, a spokeswoman for the agency said on Saturday.
“The preliminary enquiry initiated by CBI a few months ago is against the borrower…and not against IDBI Bank, as reported in the media,” the lender said in a stock exchange filing.
“The Bank has been providing all the information and documents sought by the agency in the matter and will continue to extend full assistance to the agency in the said enquiry,” it said.
IDBI Bank CMD M S Raghavan on Monday had said, the loan was given when the Kingfisher Airlines was doing well and some particulars on this have already been submitted to the investigating agency.
“The loan was given in 2008-09 when the airline was in a good condition and doing well… our credit committee had also approved it,” Raghavan had told reporters in Bhubaneswar.
12/08/14 Indian Express
