Kingfisher Airlines Valuation Exaggerated To Get Loans?

Sources tell TIMES NOW that Serious Fraud Investigation Office (SFIO) will be looking into the fact if the valuation for Kingfisher Airlines was exaggerated in order to get the loans. Under fire over dues totalling over Rs 9,000 crore of long-grounded Kingfisher Airlines in unpaid loans and interest, Vijay Mallya left the country on March 2. The Enforcement Directorate(ED) has summoned the liquor baron to appear before it in Mumbai on March 18 as part of its money laundering probe in the alleged default in payment of Rs 900 crore dues to IDBI bank by Kingfisher Airlines.

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