The CBI team from Delhi visited 12 places including the residence of Mallya and other officials.

Vijay Mallya loan default 8 including former IDBI chairman Kingfisher executives arrested
news Crime Tuesday, January 24, 2017 - 08:20

The Central Bureau of Investigation (CBI) arrested former Chairman of IDBI bank Yogesh Aggarwal, three other banks officials and four executives from Kingfisher Airlines on Monday, in connection with Vijay Mallya loan default case.

According to reports, the CBI team from Delhi visited 12 places including the residence of Mallya and other officials, and Mallya’s office in UB Towers, Bengaluru.

Apart from Yogesh Aggarwal, bank officials BK Batra, SKV Srinivasan, and RS Sridhar, and Kingfisher Airlines executives are former chief financial officer A Raghunathan, Shailesh Porkar, Amit Nadkarni and AC Shah were arrested. 

Mallya is facing the process of recovery of Rs 6,203 crore from banks in the Kingfisher case. The debt recovery tribunal (DRT) in Bengaluru had recently ruled in favour of SBI-led consortium to proceed recovery of the amount. The arrest comes even as UB spokesperson had recently informed that Mallya would appeal against the tribunal order. 

A senior CBI official, who requested anonymity, told Mint:

“We have arrested these executives in connection with the money laundering case. An enquiry will now be initiated into the matter and we will take it forward from there.” 

In a statement released the same day, UB spokesperson confirmed that the CBI officials had visited them and said that they were “fully cooperating with them.” 

Mallya has been absconding since March last year, following a consortium of 17 banks moving a debt recovery suit against him.


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