New Delhi, January 23, 2017

The arrest include Ex-IDBI Bank chief Yogesh Aggarwal & former CFO Kingfisher Airlines A Raghunathan

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 sources said.

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 here, three floors of UB towers in Bengaluru and residences of Aggarwal and Raghunathan among others.

UB Group issued a statement in Bengaluru confirming the visit of CBI team.

"A CBI team visited the UB Group offices in Bangalore today and we are fully cooperation with them," a UB group spokesperson said.

[The Business Standard]