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SBI refuses to confirm reports on bailout to Kingfisher

The State Bank of India (SBI) has refused to confirm reports that the bank has decided to extend a relief package to the crisis-hit Kingfisher Airlines.

Skeletons tumble out of Mallya closet: Kingfisher Airlines diverted bank loans to tax havens

Oct 12, 2015    

New Delhi - Kingfisher Airlines had allegedly diverted a substantial chunk of Rs 4,000 crore in loans secured from public sector banks to tax havens which has now come under the scanner of the CBI that has expanded its probe in the matter.The material recovered during searches on Saturday indicated that the airlines, which stopped flights in October 2012, has allegedly diverted part of loans taken from 11 nationalised banks, with total exposure of Rs 4,000 crore, to tax haven countries for different purposes not specified in loan applications, sources claimed.They claimed that the agency will ...

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