CBI raids Vijay Mallya’s offices, residences

New Delhi/Bengaluru, Oct 10 (IANS) The CBI on Saturday raided the houses and offices of Vijay Mallya and his now grounded Kingfisher Airlines in Delhi and Bengaluru in connection with alleged fraud in Rs.950 crore loan to him by IDBI bank which has been declared as non-performing asset.

The raids were made at five places, officials said.

The IDBI bank came under the scanner in 2014 for granting an alleged bad loan to Kingfisher Airlines despite knowing its precarious financial position and negative credit ratings.

Mallya’s airline has been grounded since October 2012.

A string of Indian banks have an exposure of nearly Rs.7,000 crore in loans to the airline, with the State Bank of India leading with Rs.1,600 crore.

The Punjab National Bank, Bank of India and Bank of Baroda have loan exposure in the range of Rs.800 crore, Rs.650 crore and Rs.550 crore.

10 Comments

  1. Dear readers,

    Where does Vijay Mallya gets money for bidding IPL and Calendar girls,when his conglomerate can’t pay his Kingfisher employees and expensive offering to the Gods?

    How does CBI and court does not now the bank accounts which he bids in millions?

    Jai hind

  2. “A string of Indian banks have an exposure of nearly Rs.7,000 crore in loans to the airline, with the State Bank of India leading with Rs.1,600 crore.” – Report.

    I still don’t understand how this man can walk freely!! I wouldn’t call him a scam artist. But he is clearly a failed businessman with no talent whatsoever! The clueless Indian media had projected him as a genius when he was borrowing money to keep his failed airlines floating for a while!! He owes so much to airlines employees as well. Again, this is why India continues to be a third-world nation.

    • But he is clearly a failed businessman with no talent whatsoever! – Mr. Rampa

      I guess then, that YOU are the ONLY chap with talent around? Or am I presuming too much about you? 🙂

    • I don’t understand…….The clueless Indian media had projected him as a genius when he was borrowing money to keep his failed airlines floating for a while! – Rampa

      What have you EVER understood? But then, that’s never the point hereabouts!

      Let alone the the “clueless Indian Media”, ya Rampa! Just FORGET about your ENTIRE Akhanda Bharatha – a “3rd-world nation” – something which you NEVER tire of blabbering – thereby leading much credence to your Pradhana Sevaka’s statement – “Earlier, you were ASHAMED to be born Indians”! Ahem!

      Now, let us take a first-world country – aka – your beloved BoddappANNA.

      At the time Nixon was running for reelection and only the day before he wrote the note he appeared on national TV in the US and said the bombing was ‘very, very effective’.

      Richard Nixon privately thought that the bombing of Vietnam achieved ‘zilch’ despite publicly claiming that it was a success. A secret archive of the former US President has revealed that in 1972 Nixon thought that the air campaign which killed tens of thousands of civilians was useless.
      He wrote a note to Henry Kissinger, his national security adviser, which said there was ‘something wrong’ with strategy.

      The note from January 3 1972, was written on the side of a top-secret memo updating the President on war developments. Nixon wrote: ‘K. We have had 10 years of total control of the air in Laos and V.Nam. The result = Zilch. There is something wrong with the strategy or the Air Force.’ Other notes shows that Nixon, frustrated by the resistance of the North Vietnamese’ wanted to ‘punish the enemy’ and ‘go for broke’. Woodward writes that Nixon stepped up the bombing to ensure that he won the election.

      http://www.dailymail.co.uk/news/article-3268661/Richard-Nixon-thought-bombing-Vietnam-achieved-zilch-despite-publicly-claiming-success-according-forgotten-note-written-1972.html

      http://www.washingtonpost.com/video/politics/nixon-years-of-bombing-in-vietnam-achieved-zilch/2015/10/11/1c08a2f6-6f64-11e5-91eb-27ad15c2b723_video.html

      ——————————————–
      Lol….. how people have SELECTIVE memories once they are ACROSS the pond and are swimming in a fishbowl…. year after year…running over the same ground..(TY Pink Floyd). 🙂

      And we haven’t even STARTED with the American riches post a land-grab, WWI/II….the blind-eye to Palestine, genocide in Iraq/Afghanistan/Libya etc.

      Pull up your Khakhi dhogla chaddis, bro. They don’t match with your star n striped socks! We need to talk a tad more. 🙂

      AND the CLUELESS chap talks about “clueless Indian media”! Lol! Looooool!

      • Somehow, our US-rejected, Saudi-returned Praveena Pinto is proud of blaming either Shree Narendra Bhai Modiji or Doddanna for everything. For example, my post was on failure of our judiciary system to punish rich and powerful while poor and weak are given harsh punishment. While this is true in almost all societies, it reaches an extreme imbalance in Bharatha as we see in cases like Mallya, salmaan Khaan etc. When I make this very valid point, he brings up Richard Nixon from 70s. LOL Unbelievable!!

        Nobody should be surprised by his inability to think rationally and respond with reasonable points. As I pointed earlier, this limitation is a direct result of biological and cultural factors. I have been working with him on regular basis to minimize the damage.

        • When I make this very valid point, he brings up Richard Nixon from 70s. LOL Unbelievable!! – Rampa

          Dear Rampa,

          Despite my almost patience and daily help, you are failing to read – let alone comprehend stuff!

          I was commenting on your needless jibe – “useless Indian media” and often-failed cliche – “3rd world country”! And then, I asked you forget about it for reasons provided by you – “lousy… 3rd world”)!

          In contrast, I brought out dear old Nick from the 70’s – and what was published (by the American media – as told by to them), & the truth about good-old Nick. And then, Rampa reacts – OUCH (Oh no! Just Standard Operating Procedure or SOP – just like a cat on a hot tin roof! 🙂

          And never mind the fact that the US media is top-notch & straighter than a straight-line and the country in question is a 1st-world one, and the time-frame was the 70’s!

          And the umpteen + 1 times when our beloved Rampa brings in a 7th century book – even when discussing cartoons on Cartoon Network – no problemo!

          Unbelievable? Better believe it! This is our Rampa from across the Pond. 🙂

          • Joker Praveena Pinto’s response proves exactly what I wrote earlier!! His sincere failure to be logical and rational in his responses is a true tragedy and part of this should be blamed on his foreign masters for creating a culture of ignorance in certain quarters of our society!! He simply can’t comprehend the difference between a failed foreign policy and failed a domestic institution.

          • His sincere failure to be logical and rational in his responses is a true tragedy and part of this should be blamed on his foreign masters for creating a culture of ignorance in certain quarters of our society!! – Rampa

            Err, Herr Rampa,

            Some clarifications are needed here:

            1. WHY are you in the land of my alleged “masters”? After all, THEY CREATED a culture of ignorance! Ya ya…. go on….agree to my rebuttal as to why humankind is the ONLY species to migrate for BETTER FULOOS and a lifestyle! (No rebuttal on THAT! poor Murugam Pai!)

            2. Are Indian “masters” no lesser manipulative? So why JUST blame the “clueless Indian media”? Isn’t the bigger game to blame for lesser stuff?

            3. What is the L x B x H of your ample RSS chaddi? I thought it was soooo accommodating’. Sadly, it doesn’t! And why are academics tossing their awards in Modi’s Khanike Hundi?

            4. Any rebuttal on the ‘posse’s’ formed by the RSS chaddis way back in INDIA….vis a vis in the lands of your NEwfoundland?

            Rampa….

            Do some HW. And revert.

    • The clueless Indian media had projected him as a genius when he was borrowing money to keep his failed airlines floating for a while!! – Joker Rampu

      Do you know why your BoddaNNA is a TRUE ‘genius’ unlike a 3rd world country like India? BoddappaNNA does not borrow money (not in the sense like other countries do). They SIMPLY GRAB it – hook or crook! Therein lies the genius!

      http://www.counterpunch.org/2015/02/06/why-is-henry-kissinger-walking-around-free/

      On September 11, 2013, hundreds of thousands of Chileans solemnly marked the 40th anniversary of their nation’s 9/11 terrorist event. It was on that date in 1973 that the Chilean military, armed with a generous supply of funds and weapons from the United States, and assisted by the CIA and other operatives, overthrew the democratically-elected government of the moderate socialist Salvador Allende. Sixteen years of repression, torture and death followed under the fascist Augusto Pinochet, while the flow of hefty profits to US multinationals – IT&T, Anaconda Copper and the like – resumed.

      Profits, along with concern that people in other nations might get ideas about independence, were the very reason for the coup and even the partial moves toward nationalization instituted by Allende could not be tolerated by the US business class.
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