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New Delhi, April 26 (IANS) The CBI has registered a case against former Aircel promoter C. Sivasankaran's companies Axcel Sunshine Ltd and Finland-based WinWinD Oy for defaulting a loan
of Rs 600 crore sanctioned by IDBI bank, an official said on Thursday. The agency on Thursday also carried out searches at 50 locations across 10 cities, including the residences of former
senior IDBI bank officials. It filed an FIR on charges of criminal conspiracy, cheating and corruption against British Virgin Islands-based Axcel Sunshine Ltd on allegations of perpetrating
fraud through the loan accounts of WinWinD Oy and Axcel Sunshine Ltd. Some former senior IDBI officials are also named in the Central Bureau of Investigation (CBI) FIR. Searches were
conducted across Delhi, Mumbai, Faridabad, Gandhinagar, Chennai, Bangalore, Belgaum, Hyderabad, Jaipur and Pune, the CBI official said. Sivasankaran allegedly took a loan of Rs 530 crore in
February 2014. This swelled to Rs 600 crore after becoming Non-Performing Asset, said the official. (This story was auto-published from a syndicated feed. No part of the story has been
edited by THE QUINT.)