New Delhi, Oct. 30 -- The sale of a controlling stake in IDBI Bank to Canada's Fairfax Financial Holdings has run into fresh controversy, with Businessworld reporting that according to an internal government note, officials opened Fairfax's sealed bid before ordering the valuations used to judge whether the offer was fair.

The Department of Investment and Public Asset Management (DIPAM) has defended the process, even as Opposition leaders, including CPI(M) Rajya Sabha MP John Brittas and Congress leader Rahul Gandhi questioning the deal.

The Cabinet Committee on Economic Affairs (CCEA) on October 14 approved the sale of a 60.72 per cent stake in IDBI to Fairfax for Rs 52,878 crore, or Rs 81 a share. The government is selling 30.48 per c...