Ex-bankers under SFIO scanner in Mallya probe
29/08/2016 00:05
SFIO (Serious Fraud Investigation Office) has widened its probe into the financial irregularities at Kingfisher Airlines and has started examining former chiefs of various banks, including public sector banks, for having extended fresh loans allegedly without full due-diligence amid huge losses at the Vijay Mallya-owned carrier, as per the media reports. The agency is also looking at allegations of loans being extended on the basis of inflated valuation of brands and some other assets as also suspected fund diversions from the airline, said the PTI report. Sources said, quoted PTI that, SFIO has widened investigations into the affairs of Kingfisher Airlines and is now focusing on the lenders as well as their top management personnel for the suspected lapses in due diligence process before extending loans to the carrier. Moreover, SFIO has examined some former heads of public sector lenders which had extended loans to the airline at a time when the carrier's losses were on the rise, they added, quoted PTI.
29/08/2016 00:05
