IDBI Bank fraud case: CBI books ex-Aircel promoter C Sivasankaran's firms, top bank officials

New Delhi: The Central Bureau of Investigation (CBI) has registered a case against former Aircel promoter C Sivasankaran's companies, Axcel Sunshine Ltd and Finland-based WinWinD Oy, for defaulting on a loan of Rs 600 crore, sanctioned by IDBI Bank, an official said on Thursday.


Representational image. News18

The agency on Thursday also carried out searches at 50 locations across 10 cities, including at the residences of former senior IDBI Bank officials.

It filed an FIR on charges of criminal conspiracy, cheating and corruption against British Virgin Islands-based Axcel Sunshine Ltd on allegations of perpetrating fraud through the loan accounts of WinWinD Oy and Axcel Sunshine Ltd.

Some former senior IDBI officials were also named in the CBI FIR.

Searches were conducted in Delhi, Mumbai, Faridabad, Gandhinagar, Chennai, Bangalore, Belgaum, Hyderabad, Jaipur and Pune, the CBI official said.

Sivasankaran allegedly took a loan of Rs 530 crore in February 2014. This swelled to Rs 600 crore after becoming a non-performing asset, said the official.

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Updated Date: Apr 27, 2018 08:00:15 IST

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