The CBI may probe IDBI for giving huge amount of money as loan to liquor baron Vijay Mallya.

It is learned that IDBI ignored the negative credit rating and negative net worth of the company and released thousands of crores of rupees to Kingfisher Airlines, which is owned by Mallya. The airline is now grounded for months due to lack of funds.

The IDBI Bank granted a loan worth Rs.950 crore to the airline at a time when it was in tatters. This sends a message that there was some kind of illegal understanding between the KFA and the bank and it has forced the CBI to probe this matter.

A preliminary enquiry has been registered by the country?s premier investigating agency to probe the loan given to Kingfisher. It is learned that the CBI may soon question senior officials of the UB Group promoted by Mallya and and IDBI Bank.

"We have not received any communication and are unaware of any such inquiry," Prakash Mirpuri, vice-president of corporate communications of the UB Group, said while commenting on the development.

It is to be noted that KFA already owes 7,500 crore to a consortium of 17 banks. "There was no need for IDBI to take the exposure outside the consortium when other loans were getting stressed," said a CBI officer.

The CBI had asked IDBI to provide some documents and information but the agency is reportedly unhappy with the response given by the bank.