Tuesday 1 May 2018

IDBI Bank fraud case: CBI probes documents on loans to Aircel ex-promoter

IDBI Bank

IDBI Bank today said the CBI has examined documents related to its loan exposure to the companies of former Aircel promoter C Sivasankaran.

The state-owned bank had given a loan to Axcel Sunshine Ltd in February 2014, which had turned into a non-performing asset (NPA) or bad loan in December 2015, IDBI Bank said in a regulatory filing.

It was responding to exchanges with regard to a news article that the CBI has booked ex-Aircel (telecom firm) promoter Sivasankaran's firms in Rs 600 crore loan fraud case.

"CBI in this context has been examining certain documents relating to the loan given by IDBI Bank and have spoken to the senior officers of the bank, who had handled the case," IDBI Bank said.

"The officers are providing the requisite information and clarification to the investigating authorities," it added.

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