INSUBCONTINENT EXCLUSIVE:
C Sivasankaran allegedly took a loan of Rs 530 crore in February 2014New Delhi: The CBI has registered a case against former Aircel
promoter C Sivasankaran's companies, Axcel Sunshine Ltd and Finland-based Win Wind Oy, for allegedly defaulting on loans worth Rs 600
crore taken from IDBI Bank, officials said on Thursday.They said the agency is carrying out searches at 50 locations, including the
residences of former senior IDBI Bank officials.The searches are spread across Delhi, Mumbai, Faridabad, Gandhinagar, Chennai, Bangalore,
Belgaum, Hyderabad, Jaipur and Pune, the officials said.Mr Sivasankaran allegedly took a loan of Rs 530 crore in February 2014
This swelled to Rs 600 crore after becoming NPA (non-performing asset), they said.The case has been registered under sections relating to
criminal conspiracy, cheating and corruption against British Virgin Islands based Axcel Sunshine Limited on allegations of perpetrating
fraud through the loan accounts of Win Wind Oy, Finland and Axcel Sunshine Limited, the officials said.
