IDBI Bank advances after denying being probed by CBI in Kingfisher loan case

   

     IDBI Bank has clarified on report 'IDBI's Rs 950 crore loan to Mallya's Kingfisher under CBI len' According to IDBI, the preliminary enquiry initiated by CBI a few months ago is against the borrower, Kingfisher Airlines and not against IDBI Bank, as reported in the media. 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.
     IDBI Bank is one of the 16 consortium lenders to Kingfisher Airlines. Kingfisher Airlines defaulted in its payment obligations to the Banks and Banks have jointly taken several recovery actions against the company and its promoter.