The Enforcement Directorate has summoned top officials from various banks and now-defunct Kingfisher Airlines as it probes Vijay Mallya’s deals.
The ED is following the money trail from the banks to companies controlled by Mallya. A senior ED official said that bankers can throw light on the decision to lend against the Kingfisher brand. Usually, banks lend against immovable, and not intellectual, property.
Reacting to reports that banks had been slow to move for recovery of dues of over ₹9,000 crore, SBI said there was no laxity in seeking relief in various courts and the debt recovery tribunal.