 "ED seeks loan details from SBI in Vijay Mallya's fresh money laundering case")
After registering a fresh case against Vijay Mallya, Kingfisher Airlines and United Breweries Holdings Ltd (UBHL), the Enforcement Directorate (ED) has sought loan details from State bank of India (SBI) to the now-grounded Kingfisher Airlines.
“We have issued a directive to one of the officers of State Bank of India (SBI) who was in charge of SBI-led 17 bank consortium," a senior ED officer told Business Standard.
The ED had registered a fresh case on Tuesday after Central Bureau of Investigation (CBI), shared its first information report with enforcement agency. CBI has filed case last week after receiving a complaint from the SBI-led 17 bank consortium.
ED case is in addition to the case registered by enforcement sleuths in March for alleged default of Rs 950 crore loan from IDBI bank.
Sources said the probe agency wants to know whether all procedures were followed by the lenders while giving loan to Kingfisher Airlines. It is also trying to ascertain lapses, if any, on part of the lenders in the entire Kingfisher Airlines loan default.
The consortium of national banks in their complaint to CBI have alleged that banks have faced huge loss to the tune of over Rs 6,000 crore between year 2010 and 2015, as Mallya has deliberately did not repay loan taken for his now defunct Kingfisher Airlines. Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the CBI FIR.
SBI has an exposure of Rs 1,600 crore to the now defunct airline. Other banks that have exposure to the airline include Punjab National Bank and IDBI Bank (Rs 800 crore each), Bank of India (Rs 650 crore), Bank of Baroda (Rs 550 crore), Central Bank of India (Rs 410 crore). While UCO Bank has to recover Rs 320 crore among others.