SFIO widens Mallya probe

NEW DELHI: Widening its probe into the financial irregularities at erstwhile Kingfisher Airlines (KFA), Serious Fraud Investigation Office (SFIO) has started examining former chiefs of various banks, including public sector lenders, for having extended fresh loans allegedly without full due-diligence amid ballooning losses at the Vijay Mallya-led carrier, source said. The white-collar crimes probe agency is also looking at allegations of loans being extended on the basis of “inflated” valuation of brands and some other assets as also suspected fund diversions from the airline, whose founder and main promoter Vijay Mallya is already under scanner of multiple agencies, including the CBI and the Enforcement Directorate.

HT Image