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SBI ex-chair OP Bhatt, other officials under CBI scanner for loans to Vijay Mallya: report

SBI ex-chair OP Bhatt, other officials under CBI scanner for loans to Vijay Mallya: report

SBI ex-chair OP Bhatt, other officials under CBI scanner for loans to Vijay Mallya: report
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By CNBC-TV18 Oct 12, 2018 9:43:29 AM IST (Published)

Former SBI chairman OP Bhatt along with a dozen of senior bank officials who worked in the Mumbai and Bangalore branches, holding posts of deputy manager, group executive, assisting general manager, credit analysts have come under CBI’s radar in the investigation, the report said.

Top officials of State Bank of India (SBI) have come under the scanner of Central Bureau of Investigation (CBI) for disbursing loans to liquor baron Vijay Mallya - without conducting due diligence, The Economic Times reported.

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Former SBI chairman OP Bhatt along with a dozen senior bank officials, who worked in the Mumbai and Bangalore branches, holding posts of deputy manager, group executive, assisting general manager, credit analystsare under the CBI scanner, the report said citing people with direct knowledge of the matter. OP Bhatt was SBI's chairman from 2006 to 2011.
"What has raised suspicions is that no “forensic audit” was done by the consortium of banks despite being aware of the “poor financial health” of Mallya’s companies," ET reported citing a source familiar with the development, adding that the loans were disbursed on the pretext of “promises” and “imaginary claims” made by Vijaya Mallya.
SBI last month said there was no laxity on its part in dealing with loan default by now defunct Kingfisher Airlines of fugitive liquor baron Vijay Mallya.
Mallya left the country on March 2, 2016 while 13 banks moved the apex court four days later seeking its intervention to prevent the businessman from leaving the country.
 
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