IDBI BANK LTD. - Clarifies on News item

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12 Aug 2014
With reference to the news item appearing in the leading Financial Daily titled "IDBI's Rs. 950 cr loan to Mallya's Kingfisher under CBI lens", In this connection IDBI Bank Ltd has clarified to BSE as under:<br/><br/>"IDBI Bank is one of the 16 consortium lenders to Kingfisher Airlines Ltd. (KAL). KAL defaulted in its payment obligations to the Banks and Banks have jointly taken several recovery actions against the Company and its promoter. The preliminary enquiry initiated by CBI a few months ago is against the borrower, KAL and not against IDBI Bank, as reported in the media. The Bank has been providing all the information and documents sought by the Agency in the matter and will continue to extend full assistance to the Agency in the said enquiry."
View all announcements for IDBI BANK LTD.	Source: BSE India

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