ED notice to IDBI ex-MD and three officials

The long arm of the law is slowly moving. The Enforcement Directorate that had told liquor baron Vijay Mallya to appear before it by March 18 has now started questioning those who facilitated the loans of Rs 7000 crore to him. The ED on Monday told former Managing Director of Industrial Development Bank of India Yogesh Agarwal to appear before it. Along with Yogesh, three other IDBI officials were also expected to before the ED today. The ED had already questioned two officials of the IDBI. The IDBI component in the Vijay Mallya liability is Rs 900 crore. State-owned State Bank of India tops the bankers' list at Rs 1600 crore loan to the King of Good Times. The public sector banks that are supposed to give loans for development have locked up the funds in Vijay Mallya's defunct Kingfisher Airline and deprived the funds for development as such. Their actions should be seen from this perspective also.