CBI Closes Disproportionate Assets Case Against B. K. Batra Amid Loan Fraud Investigation

The Central Bureau of Investigation (CBI) has officially closed a case of disproportionate assets against former IDBI deputy managing director, B K Batra. This decision comes even as Batra remains under the scanner for his involvement in a significant loan fraud case involving Kingfisher Airlines, once led by fugitive entrepreneur Vijay Mallya, officials disclosed on Tuesday.

Initiated in 2018, the CBI's investigation accused Batra of accumulating assets valued at Rs 1.69 crore, an amount deemed disproportionate to his known sources of income during his tenure at IDBI Bank from January 1, 2008, to July 30, 2016. The assets probe stemmed from suspicious bank transactions, including a Rs 60 lakh entry linked to dubious sources prior to his retirement.

Ultimately, the probe concluded that when excluding the Rs 60 lakh linked to a property sale, the assets in question didn't meet the Supreme Court's threshold for further inquiry. Consequently, the CBI's closure report was recently validated by a special court, even as investigation continues into Batra's role in the Kingfisher Airlines loan debacle.

(With inputs from agencies.)