The CBI registered a Rs 600-crore bank fraud case against former Aircel promoter C Sivasankaran’s companies — British Virgin Islands-based Axcel Sunshine Ltd and Finland-based Win Wind Oy — on Thursday. The companies have allegedly defaulted on a loan of Rs 530 crore availed in February 2014 from the IDBI Bank. It reportedly increased to Rs 600 crore after becoming NPA.
The CBI has spread out its search at 50 locations, including Delhi, Mumbai, Faridabad, Gandhinagar, Chennai, Bangalore, Belgaum, Hyderabad, Jaipur and Pune, and the residences of former senior IDBI bank officials.
CBI registers case in a Rs 600 crore bank fraud case against IDBI bank, Axcel Sunshine Limited, British Virgin Islands on allegations of perpetrating fraud through the loan accounts of Win Wind Oy, Finland and Axcel Sunshine Limited. Raids at 50 locations. @IndianExpress
— rahul tripathi (@rahultripathi) April 26, 2018
Axcel Sunshine Limited has been charged with criminal conspiracy, cheating and corruption on allegedly committing fraud on accounts of Win Wind Oy, Finland and Axcel Sunshine Limited, the officials said.
According to a PTI report, 15 senior officials of IDBI bank, including retired officials, and 24 private officials, including directors and chairmen, and their companies have been booked.