Mumbai: Investigative agencies are trawling through 1.5 lakh emails of Vijay Mallya, chairman of the now defunct Kingfisher Airlines, to gather possible evidence of any “undue favours” that may have been given to his firm, said two people familiar with the investigation.
These emails, which Mallya sent to senior company officials, political leaders and bankers, may form a part of the CBI’s chargesheet — which is expected in the next few months — on the Rs 6,900 crore loan default by Kingfisher Airlines. Most of the loans were granted to Kingfisher Airlines between 2006 and 2009, when Vijay Mallya was a Member of Parliament.
It was in November 2010 that banks restructured Kingfisher Airlines’s debt for the first time. The consortium of lenders led by State Bank of India (SBI) converted Rs 1,355 crore of debt into equity at a 61.6% premium to the market price of the Kingfisher Airlines stock.
Besides, the bankers stretched the period of repayment of loans to nine years with a two-year moratorium, cut interest rates and sanctioned a fresh loan.
30/01/17 Khushboo Narayan/Indian Express
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These emails, which Mallya sent to senior company officials, political leaders and bankers, may form a part of the CBI’s chargesheet — which is expected in the next few months — on the Rs 6,900 crore loan default by Kingfisher Airlines. Most of the loans were granted to Kingfisher Airlines between 2006 and 2009, when Vijay Mallya was a Member of Parliament.
It was in November 2010 that banks restructured Kingfisher Airlines’s debt for the first time. The consortium of lenders led by State Bank of India (SBI) converted Rs 1,355 crore of debt into equity at a 61.6% premium to the market price of the Kingfisher Airlines stock.
Besides, the bankers stretched the period of repayment of loans to nine years with a two-year moratorium, cut interest rates and sanctioned a fresh loan.
30/01/17 Khushboo Narayan/Indian Express
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