Bengaluru: The CBI on Monday arrested four former IDBI Bank officials, including a former Chairman, and four former executives of now-defunct Kingfisher Airlines in its ongoing probe into the Vijay Mallya loan default case, officials said.
A senior Central Bureau of Investigation (CBI) official requesting anonymity told IANS: “The agency on Monday arrested former Chairman of IDBI Bank Yogesh Agarwal from Delhi and three other former employees — S.K.V Srinivasan, O.V. Bundelkhand and Sridhar — from other places.”
“The four former employees of the Kingfisher Airlines, who were also arrested included its former CFO A. Raghunath, Shailesh Borkar, Amit and A.C. Shah,” the official said.
Earlier in the day, the CBI raided at over 11 places in Delhi, Bengaluru and Mumbai.
Confirming the searches by the investigating agencies at its offices in Bengaluru, UB Group in a statement said: “A CBI team visited the UB Group offices in Bengaluru on Monday and we are fully cooperating with them.”
The CBI search came three days after the Debt Recovery Tribunal’s Bengaluru bench ordered the attachment and recovery of Mallya’s properties for defaulting on bank loans by his defunct Kingfisher Airlines Ltd.
Allowing a joint petition filed in June 2013 by a consortium of 17 banks led by the State Bank of India (SBI), the Tribunal’s Bengaluru bench said properties of Mallya and Kingfisher worth Rs 6,203 crore ($909 million) be recovered from them with 11.5 per cent interest per annum since July 26, 2013 over unpaid loans.
