The Central Bureau of Investigation Tuesday charge sheeted Kingfisher owner Vijay Mallya and 8 others in relation with the default of loan granted by IDBI bank to Kingfisher Airlines.
On Monday, CBI arrested former chairman of IDBI Bank Yogesh Aggarwal along with four other former officials in the connection with this case. IDBI bank had granted more than Rs 900 crore loan to Kingfisher Airlines during the time when Aggarwal was chairman. Among the people who were arrested are identified as the assistant vice-president Shailesh Borkar, the senior manager AC Shah and then deputy general manager Amit Nadkarni. On the same day, CBI also conducted raids at the UB Group offices in Bengaluru.
A probe was initiated by the CBI based on a complaint filed by IDBI, accusing Mallya of allegedly willfully defaulting the loan. During the investigations, CBI learned that IDBI granted the loan at low interest rates despitefully aware of the airline’s financial loss. In March 2009, Kingfisher had lost his revenue around of Rs 1,600 crore.
All accused have been sent to jail and are in judicial custody up to February 7th. All of them have sought for bail.
The CBI in its letter said, “Although the chargesheet has been filed, further investigation in the case is still going on.” The agency has pointed out a non-bailable warrant against the head of Kingfisher Vijay Mallya.
The CBI said it has also sent letters to the British Virgin Islands and Singapore to find out about amounts lying in Kingfisher’s bank account in these places.
The court has fixed January 30 for hearing the bail plea.
The news of a scam of financial nature involving IDBI officers also is worrisome for the nation. There could likely surface many more such scams in time to come. Closely relevant to the said news , readers may like to know this Vedic astrology writer’s alerts for more care and strategy in article “ 2017 – an opportune year for India with major worrisome concerns in February-March and August-September” ( Also known as “ Probable Predictions in relation to India in coming year 2017”) issued widely to Indian news media last year in October and November 2016. It was opined that first three months of year 2017 from January to March could be termed as one basket from the angle of similarity of planetary influences , while February –March could likely present major worrisome concerns. Financial or trading scams in places such as Delhi , Mumbai and the like could be in the news. Some political leaders or officials comparable to them may probably face some consequence of wrong-doing allegedly done in past. It seems the financial-trading scam allegedly involving IDBI top ranking officials highlighted in the news points to accuracy of the alert prediction of this writer.