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Aircel's promoter ordered to pay IDBI
Mint Mumbai
|March 04, 2025
A London court has ruled in favour of IDBI Bank, directing a firm linked to former Aircel promoter Chinnakannan Sivasankaran to pay $143.7 million (about ₹1,250 crore) towards principal and interest on a defaulted loan.
The dispute stems from a $67 million loan taken in 2014 by Axcel Sunshine Ltd, a British Virgin Islands-based subsidiary of Siva Industries and Holdings Ltd.
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