Vijay Mallya's loan was sanctioned in just 20 days! Was there political intervention?

Vijay Mallya got his loan sanctioned by IDBI within just 20 days of applying it.

Zee Media Bureau

New Delhi: In what could give a new twist to liquor baron Vijay Mallya's IDBI loan case, the Enforcement Directorate (ED), after questioning IDBI top bosses, feels that there could be political intervention in the approval of loan, a financial daily has reported.

As per a report in the Economic Times, the ED after questioning a senior IDBI executive as part of its money laundering probe in the alleged default in payment of Rs 900 crore dues to the bank, is sensing that there could be political push behind it.

ET further reported that Mallya got his loan sanctioned within just 20 days of applying it. Reportedly the bank was told to grant loan to Mallya and overlook the company's negative rating.

ED has questioned of former CMD of the IDBI bank Yogesh Agarwal, two other executives of the bank have also been recently questioned and their statements recorded under the provisions of the Prevention of Money Laundering Act (PMLA).

IDBI is part of the 17 bank consortium which lent money to the grounded Kingfisher Airlines and later went to the Debt Recovery Tribunal (DRT) for recovery of these dues.  

Meanwhile, the ED has issued fresh summons to Mallya to make a personal appearance before its investigating officer here on April 2 after he failed to turn up on March 18.