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Rs 600 crore loan fraud against Aircel Promoter C sivasankaaran’s firm

The central bureau of Investigation (CBI) has registered a case of Rs 600 crore loan fraud against the former Aircel promoter C Sivasankaran’s companies, Axel Sunshine Ltd. And Finland Based Win Wind Oy. The loan of amount Rs 600 crore is taken from IDBI Bank.

The CBI is carrying out searches across Delhi, Chennai, Bangalore, Jaipur, Pune, Mumbai, Faridabad, Gandhinagar, Belgaum and Hyderabad. Sivasankaran took the loan of Rs 530 crore in February 2014 but at presently it is swelled upto Rs 600 crore by becoming a NPA.

The case has been registered under sections of Corruption, cheating, criminal conspiracy against British Virgin Islands based Axcel Sunshine with the allegations of committing fraud through loan accounts of Win wind Oy, Finland and Axcel Sunshine Ltd.

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