In what is seen as a major embarrassment for the Indian agencies probing Vijay Mallya case, a London court has blamed Indian banks for not being vigilant enough while sanctioning loans to him. The Westminster Magistrates’ Court in London, hearing the extradition case of fugitive Indian liquor baron Vijay Mallya has raised some serious question on the conduct of the Indian banks in sanctioning loans to Kingfisher Airlines.
“There are clear signs that the banks seem to have gone against their own guidelines [in sanctioning some of the loans],” Judge Emma Arbuthnot said, “inviting” the Indian authorities to explain the case against some of the bank officials involved because that relates to the “conspiracy” point against Mallya.
AFP