Bigger India
Vijay Mallya’s Guarantees For Debt Were Overvalued, Says CBI
Over 20 banks, which include those that were not part of the consortium, have been under CBI lens for alleged involvement with Mallya.
CBI has claimed that Vijay Mallya’s United Breweries Holdings LtdNSE -4.76 % (UBHL) had furnished corporate guarantees far in excess of the tangible net worth and market capitalisation of the company and is probing why the banks accepted them without ascertaining their real value.