Indian banks broke rules to give loans to Kingfisher Airlines, says UK judge in Vijay Mallya hearing
The British judge hearing the extradition case of liquor baron Vijay Mallya today said that it was 'blindingly obvious' that rules were being broken by Indian banks in giving loans.
On June 28, the Cabinet had cleared disinvestment of debt-laden Air India but the final modalities, including the quantum of stake sale, would be decided by a panel headed by the finance minister.
Mallya’s tweet came after the DGCA initiated a probe following the incident of engine fire on one of the aircrafts belonging to the budget passenger carrier IndiGo.
Nine persons, including former executives of Kingfisher Airlines and IDBI officials, were arrested on Monday as the agency fears they might have influenced the witnesses.