SBI Capital, Ambit guilty of Kingfisher loan 'fraud': Probe
The Serious Fraud Investigation Office has found officials at SBI Capital Markets and Ambit Corporate Finance guilty of helping Kingfisher Airlines defraud lenders. It brought charges against Supratim Sarkar, Executive VP of SBI Caps, Ambit CEO Ashok Wadhwa, and two former valuers of Grant Thornton for inflating Kingfisher's brand value. The agency is yet to file cases against the accused.