India's CBI Raids Kingfisher, Mallya Offices on Loan Default

Updated on
  • IDBI Bank officials sanctioned loan in violation of norms: CBI
  • Searches conducted in five places in Mumbai, Bengaluru and Goa

India’s federal investigations agency searched the offices of Kingfisher Airlines Ltd. and its owner Vijay Mallya in connection with alleged default on a 9 billion-rupee ($139 million) loan from IDBI Bank Ltd.

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