companies increased significantly from the Financial Year 2012-13 onwards, with the lending percentage crossing double digits to 15 per cent of total loans and advances in the year. In the subsequent years, it continued increasing and more than doubled to around Rs 5,200 crore, i.e. 37 per cent of total loans and advances in FY 2017-18.
lending to Siva Group was approved fraudulently in furtherance of
the connivance with C. Sivasankaran (A13), who was the controlling will
and mind of all his group entities/Siva Group and he had close relationship with Ravi Parthasarathy (Accused 2) and Hari Sankaran (A3).
position by giving the loans to Siva Group of Companies as some of the
companies of Siva Group had failed to repay the earlier loans granted
to them by WIN. In the said process, interest of the IFIN was injured
as wrongful loss was caused to the Company and loan amount to the Siva
Group could not be recovered. It also caused wrongful gain to C.
Sivasankaran (A18).
--IANS am/in
