Shares of IDBI Bank fell over 2 percent intraday Tuesday as its few senior representatives were arrested in Kingfisher Airlines loan case.
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Central Bureau of seek (CBI) On Monday arrested a former chairman and four other ex officials of IDBI Bank along with four former executives of Kingfisher Airlines associated with the Vijay Mallya loan default case. Those arrested range from the then Chairman of IDBI Bank Yogesh Aggarwal, Former CFO of now defunct Kingfisher air carriers A Raghunathan.
Sources said three more former operatives of the airlines and three more former officials of IDBI Bank were also taken into custody. difficulties IDBI Wholesale Jerseys Kids and Youth, Full Sizes for Children
executives arrested by CBI include O V Bundellu, S k V Srinivasan, R S Sridhar, i was told that.
The sources said besides former CFO of Kingfisher airways, Three more former middle management Shailesh Borke, A C Shah and Amit Nadkarni were also in jail.
The arrests were accompanied by searches at 11 places including Vijay Mallya’s residence here, Three floors of UB towers in Bengaluru, Residences of Aggarwal and Raghunathan a few.
The arrests have been made from multiple cities. While Raghunathan was arrested in Mumbai, Aggarwal was taken into child custody from Gurgaon, The sources for the article said.
CBI had enlisted a case against Mallya, movie director of defunct Kingfisher Airlines; group; one specific Rtheghunthe actualthpern, Chief money Officer of the Airlines; And unknown officials of IDBI Bank. The loan was allegedly given the nod in violation of norms regarding credit limits.
The sources said there was no need for the bank to take the exposure outside the consortium. “it was first exposure to the bank. There was no require for the bank to take the exposure outside the consortium when already other loans were getting stressed, A senior CBI elegant, Probing the problem, Had older said.
The stock has shown weak trends recently after having fallen nearly 1.5 percent up to now 3 days.
at only 09:35 hrs IDBI Bank was quoting at Rs 75.70, within Rs 0.40, actually 0.53 per-cent, regarding the BSE. It has touched an intraday high of Rs 75.80 and an intraday cheaper of Rs 74.55.