NEW DELHI: Vijay Mallya ’s Kingfisher Airlines, carrying a negative credit rating, had got a Rs 950-crore loan in October-November 2009 from IDBI Bank a mere 20 days after applying for it.Investigators say they have reason to believe that “pressure from the top” was a key reason behind the unusually fast clearance and that this aspect will be probed. Enforcement Directorate sleuths who have been questioning IDBI’s ex-chief Yogesh Agarwal told ET that the former banker told them in Mumbai last week that KFA’s loan application was cleared in less than three weeks and that he defended the decision. But ED officials, who sought anonymity, said after questioning Agarwal, they “have reasons to believe there was political intervention for Mallya”.Mallya has been asked to appear before ED on April 2, and the directorate will question the businessman on “political favours he received”, a top agency official said. The same ED official said that among other lines of inquiry, the directorate will examine IDBI’s Mallya loan files closely to see whether any bank official involved made margin notes referring to political intervention.Agarwal and other IDBI officials will also be questioned again in this regard. When contacted, an IDBI Bank spokesperson, in an emailed response, said: “IDBI Bank has sanctioned loans to Kingfisher Airlines following due process and prevailing guidelines. It may be mentioned that IDBI has fully cooperated with Central Bureau of Investigation and provided all clarification sought for in the matter.”Agarwal told ET: “I would not like to make any statement before the press.” ED officials said Agarwal, during his questioning, insisted all norms had been followed. When asked why a hefty loan was disbursed so quickly to a company with negative credit rating, he responded that “profit and loss are part of the business”.Agarwal was part of the IDBI executive committee set up to screen Mallya’s loan application. The committee gave a favourable report. ED investigators said they have sought explanation from IDBI officials why the bank sanctioned the loan despite uncertainty over Mallya’s repayment capacity for an earlier loan disbursed by a consortium of banks. IDBI officials’ reply, according to ED, was that they “were asked to consider the brand value of Kingfisher Airlines”.The senior ED official quoted earlier said: “After questioning bank officials, we strongly suspect political intervention behind the loan sanction.” He added that there was no need for the bank to take exposure outside the lenders’ consortium. Investigators are now trying to determine the sequence of events leading to IDBI’s big loan to a negatively rated Kingfisher. IDBI, and 16 other banks, later moved the Debt Recovery Tribunal (DRT) for recovery of dues. ED has also started receiving documents from other banks in reply to letters written last week.