The CBI filed a charge sheet against ex-IDBI Bank chairman, Kingfisher Airlines and Vijay Mallya and eight others, on Tuesday. Nine of the arrested were produced before the CBI court and asked for judicial custody.
The Central Bureau of Investigation (CBI), on Monday, arrested a former chairman and three other ex-officials of IDBI Bank along with four former executives of Kingfisher Airlines in connection with the Vijay Mallya loan default case. Those arrested include the then chairman of IDBI Bank Yogesh Aggarwal and former CFO of now-defunct Kingfisher Airlines A Raghunathan, CBI officials said on the condition of anonymity.
They said three more former executives of the airlines and three more former officials of IDBI Bank were also taken into custody.
The arrests were followed by searches at 11 places, including Mallya's residence in New Delhi, three floors of UB towers in Bengaluru and residences of Aggarwal and Raghunathan among others. The UB Group issued a statement in Bengaluru confirming the visit of CBI team.
Other IDBI executives arrested by the CBI include OV Bundellu, SKV Srinivasan and RS Sridhar, the CBI officials quoted above said.
The CBI has alleged that Aggarwal approved the loans and also instructed to expedite the ratings while finalising the loans to Kingfisher Airlines of over Rs 900 crore. The agency has said that loans were issued by accepting Kingfisher brand as hypothecation, lease aircraft and guarantees from UB Group and Mallya himself.
The arrests were followed by searches at 11 places including Mallya's residence in New Delhi, three floors of UB towers in Bengaluru and residences of Aggarwal and Raghunathan among others.
The UB Group issued a statement in Bengaluru confirming the visit of CBI team.
"A CBI team visited the UB Group offices in Bangalore on Monday and we are fully cooperation with them," a UB group spokesperson said.
(Source: CNN News18 and PTI)
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