Kingfisher Airlines

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The Central Bureau of Investigation (CBI) has started enquiry against Kingfisher Airlines and as well as IDBI bank for alleged loan transaction worth of Rs 950 crore.  CBI sources said the IDBI bank has failed to give satisfactionary answers that on which condition bank extended loan if Airlines was declared the crisis-ridden company.

According to CBI sources senior officials of the Kingfisher Airlines, own by liquor baron Vijay Mallya, and IDBI Bank will be examined soon into the matter.

The debt-laden Kingfisher Airlines has stopped operations since October 2012.

The All India Bank Employees Association has come up with the list of willful defaulters in which Kingfisher Airlines is leading the tally with a with Rs 2,673 crore loan.

The consortium of 17 banks had an outstanding of over Rs 7,000 crore (Rs 70 billion) on loans from Kingfisher with State Bank of India (SBI) having the highest exposure of Rs 1,600 crore (Rs 16 billion).

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Punjab National Bank (PNB) has outstanding dues of Rs 800 crore (Rs 8 billion) to Kingfisher, Bank of India Rs 650 crore (Rs 6.5 billion) and Bank of Baroda Rs 550 crore (Rs 5.5 billion).

Among the others, United Bank of India has Rs 430 crore (Rs 4.3 billon), Central Bank of India Rs 410 crore (Rs 4.10 billion), UCO Bank Rs 320 crore (Rs 3.2 billion), Corporation Bank Rs 310 crore (Rs 3.1 billion), State Bank of Mysore, Rs 150 crore (rs 1.5 billion), Indian Overseas Bank Rs 140 crore (Rs 1.4 billion), Federal Bank Rs 90 crore (Rs 900 million), Punjab and Sind Bank Rs 60 crore (Rs 600 million)and Axis Bank Rs 50 crore.

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