The Hush Post: The Central Bureau of Investigation lodged a case against former Aircel promoter C Sivasankaran’s companies, Axcel Sunshine Ltd and Finland-based Win Wind Oy.
The case has been registered for allegedly defaulting on loans to the tune of Rs 6 billion. The loans were taken from IDBI bank.
The agency is conducting searches at 50 spots, including the houses of former IDBI bank officials.
The searches were carried out at Mumbai, Faridabad, Delhi, Faridabad, Chennai, Bangalore, Belgaum, Gandhinagar, Hyderabad, Pune and Jaipur.
Sivasankaran allegedly took a loan of Rs 5.3 billion in February 2014. This swelled to Rs 6 billion after becoming NPA.
The case has been lodged under various sections relating to cheating, criminal conspiracy, corruption against British Virgin Islands-based Axcel Sunshine Limited and there are allegations of perpetrating fraud via the loan accounts of Win Wind Oy, Finland and Axcel Sunshine Limited.