New Delhi: CBI is likely to register more FIRs into alleged loan defaults of Kingfisher even as it plans to expand its probe to look into the allegations of diversion of about USD 200 million dollars to “tax havens”.
The agency is likely to register more FIRs to bring into the ambit of probe the additional Rs 3100 crore loans from 10 other nationalised banks on which the company has allegedly defaulted, turning them into non-performing assets, CBI sources said.
They said the present FIR against the company is related to Rs 900 crore of bad loan from IDBI bank but more FIRs may be registered to probe exposure of other public sector banks.
They said the agency has received prima facie input which indicates that the company has allegedly diverted about USD 200 million from these loans to two “tax haven” countries which will be probed during the course of investigations.
When asked for a reaction, UB group spokesperson declined to comment on the development.
Asked to comment on the diversion of funds, CBI spokesperson said the probe is in initial stage and every input is being evaluated.
The sources remained tight-lipped about the countries where such transfers were made as they feel it might compromise the information that they might be seeking through Letters Rogatory, judicial requests, from these countries.
“There was no need for the bank to take the exposure outside the consortium when already other loans were getting stressed,” a senior CBI official, probing the matter, had earlier said on the IDBI loan.
Last week, CBI has registered a case against Vijay Mallya, Director of defunct Kingfisher Airlines, the company, A Raghunathan, Chief Financial Officer of the Airlines, and unknown officials of IDBI Bank in connection with alleged default of over Rs 900 crore loan from the Bank.
It is alleged that the loan was sanctioned in violation of norms regarding credit limits.
CBI had carried out searched at the offices and residence of Mallya in Mumbai, Goa, Bangalore and other places.
“The CBI officials visited UB Group premises in Bengaluru, Goa and Mumbai in the course of an investigation regarding a loan facility availed by Kingfisher Airlines.
“The company co-operated with the officials…,” the official spokesperson of the UB Group had said.
In a regulatory filing, IDBI Bank said it is one of the 17 consortium lenders to Kingfisher Airlines which defaulted in its payment obligations.
Banks have jointly taken several recovery actions against the company and its promoter, it said, adding, CBI had earlier initiated preliminary enquiry in the matter against the borrower and the bank had provided all information and documents sought by the investigating agency in the matter.
“Moreover, since the matter is not new and has been probed by CBI earlier also and relates to the normal business activities of IDBI Bank and other consortium lender banks, there is no price sensitive angle in the matter,” it said.