CBI Court Ex­tends Cus­tody of Nine Ac­cused in KFA Case

The Economic Times - - Economy: Macro, Micro & More -

The CBI spe­cial court in Mum­bai on Tues­day ex­tended the ju­di­cial cus­tody of all the nine ac­cused in the King­fisher Airlines loan de­fault case till Fe­bru­ary 20. The Cen­tral Bureau of In­ves­ti­ga­tion (CBI) had ar­rested five for­mer IDBI Bank of­fi­cials and four King­fisher Airlines of­fi­cials on Jan­uary 23 on charges of col­lu­sion in sanc­tion­ing over ₹ 1,000 crore loans to the now moth­balled car­rier run by Vi­jay Mallya. The CBI coun­sel al­leged that the loans were given with­out ac­cept­ing shares or any tan­gi­ble as­set as col­lat­eral in con­tra­ven­tion to what was de­cided by the bank ear­lier.

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