Mallya & IDBI head's 'holiday meet' led to hasty ₹350cr loan
The Enforcement Directorate has said loan worth ₹350 crore was hastily disbursed by IDBI Bank to Kingfisher Airlines after a “holiday” meeting between Vijay Mallya and then bank CMD. According to the ED, both organisations had “criminally conspired” to clear the entire deal despite weak financials of the airline. Notably, CBI recently arrested the former IDBI Chairman in this case.