Vijay Mallya blames UPA for favoring Jet Airways and Air India as the result of Kingfisher's failure

New Delhi: UB Group Chairman Vijay Mallya has blamed the UPA government for favoring Jet Airways and Air India as the result of Kingfisher's failure.

Mallya was examined by the Central Bureau of Investigation (CBI) on Thursday in connection with its probe into alleged loan default of Rs 900 crore taken from IDBI bank.

Mallya also said sudden increase in fuel prices, rupee depreciation and global recession lead to huge losses. He has named former finance minister P Chidambaram for the mess post 2008 slowdown.

He also said he is trying to settle issues with other banks.

The CBI has registered a case against Mallya, Director of defunct Kingfisher Airlines; the company; A Raghunathan, Chief Financial Officer of the Airlines; and unknown officials of IDBI Bank. It is alleged that the loan was sanctioned in violation of norms regarding credit limits.

The debt-laden airlines stopped operations in October 2012.