New Delhi/Bengaluru, Oct 10 (IANS) The CBI on Saturday raided the houses and offices of Vijay Mallya and his now grounded Kingfisher Airlines in Delhi and Bengaluru in connection with alleged fraud in Rs.950 crore loan to him by IDBI bank which has been declared as non-performing asset.
The raids were made at five places, officials said.
The IDBI bank came under the scanner in 2014 for granting an alleged bad loan to Kingfisher Airlines despite knowing its precarious financial position and negative credit ratings.
Mallya’s airline has been grounded since October 2012.
A string of Indian banks have an exposure of nearly Rs.7,000 crore in loans to the airline, with the State Bank of India leading with Rs.1,600 crore.
The Punjab National Bank, Bank of India and Bank of Baroda have loan exposure in the range of Rs.800 crore, Rs.650 crore and Rs.550 crore.
All this is news for media nothing will happen itis all political gimmicks
Dear readers,
Where does Vijay Mallya gets money for bidding IPL and Calendar girls,when his conglomerate can’t pay his Kingfisher employees and expensive offering to the Gods?
How does CBI and court does not now the bank accounts which he bids in millions?
Jai hind
“A string of Indian banks have an exposure of nearly Rs.7,000 crore in loans to the airline, with the State Bank of India leading with Rs.1,600 crore.” – Report. I still don’t understand how this man can walk freely!! I wouldn’t call him a scam artist. But he is clearly a failed businessman with no talent whatsoever! The clueless Indian media had projected him as a genius when he was borrowing money to keep his failed airlines floating for a while!! He owes so much to airlines employees as well. Again, this is why India continues to be a third-world… Read more »
But he is clearly a failed businessman with no talent whatsoever! – Mr. Rampa
I guess then, that YOU are the ONLY chap with talent around? Or am I presuming too much about you? 🙂
I don’t understand…….The clueless Indian media had projected him as a genius when he was borrowing money to keep his failed airlines floating for a while! – Rampa What have you EVER understood? But then, that’s never the point hereabouts! Let alone the the “clueless Indian Media”, ya Rampa! Just FORGET about your ENTIRE Akhanda Bharatha – a “3rd-world nation” – something which you NEVER tire of blabbering – thereby leading much credence to your Pradhana Sevaka’s statement – “Earlier, you were ASHAMED to be born Indians”! Ahem! Now, let us take a first-world country – aka – your beloved… Read more »
Somehow, our US-rejected, Saudi-returned Praveena Pinto is proud of blaming either Shree Narendra Bhai Modiji or Doddanna for everything. For example, my post was on failure of our judiciary system to punish rich and powerful while poor and weak are given harsh punishment. While this is true in almost all societies, it reaches an extreme imbalance in Bharatha as we see in cases like Mallya, salmaan Khaan etc. When I make this very valid point, he brings up Richard Nixon from 70s. LOL Unbelievable!! Nobody should be surprised by his inability to think rationally and respond with reasonable points. As… Read more »
When I make this very valid point, he brings up Richard Nixon from 70s. LOL Unbelievable!! – Rampa Dear Rampa, Despite my almost patience and daily help, you are failing to read – let alone comprehend stuff! I was commenting on your needless jibe – “useless Indian media” and often-failed cliche – “3rd world country”! And then, I asked you forget about it for reasons provided by you – “lousy… 3rd world”)! In contrast, I brought out dear old Nick from the 70’s – and what was published (by the American media – as told by to them), & the… Read more »
Joker Praveena Pinto’s response proves exactly what I wrote earlier!! His sincere failure to be logical and rational in his responses is a true tragedy and part of this should be blamed on his foreign masters for creating a culture of ignorance in certain quarters of our society!! He simply can’t comprehend the difference between a failed foreign policy and failed a domestic institution.
His sincere failure to be logical and rational in his responses is a true tragedy and part of this should be blamed on his foreign masters for creating a culture of ignorance in certain quarters of our society!! – Rampa Err, Herr Rampa, Some clarifications are needed here: 1. WHY are you in the land of my alleged “masters”? After all, THEY CREATED a culture of ignorance! Ya ya…. go on….agree to my rebuttal as to why humankind is the ONLY species to migrate for BETTER FULOOS and a lifestyle! (No rebuttal on THAT! poor Murugam Pai!) 2. Are Indian… Read more »
The clueless Indian media had projected him as a genius when he was borrowing money to keep his failed airlines floating for a while!! – Joker Rampu Do you know why your BoddaNNA is a TRUE ‘genius’ unlike a 3rd world country like India? BoddappaNNA does not borrow money (not in the sense like other countries do). They SIMPLY GRAB it – hook or crook! Therein lies the genius! http://www.counterpunch.org/2015/02/06/why-is-henry-kissinger-walking-around-free/ On September 11, 2013, hundreds of thousands of Chileans solemnly marked the 40th anniversary of their nation’s 9/11 terrorist event. It was on that date in 1973 that the Chilean… Read more »