CBI arrests eight in Mallya's loan default case

The Airlines officials besides Mallya are alleged to have colluded with IDBI bank officials for seeking a loan of Rs 900 crore without requisite eligibility. 

Published: 24th January 2017 12:18 AM  |   Last Updated: 24th January 2017 12:18 AM   |  A+A-

CBI Office-PTI

File image of CBI main office in New Delhi. | PTI

By Express News Service

NEW DELHI: The Central Bureau of Investigation (CBI) on Monday arrested former chairman of IDBI Bank Yogesh Aggarwal besides three other former officials of the public sector bank four former executives of the now-defunct Kingfisher airlines in connection with a loan default case involving Vijay Mallya.

Besides Aggarwal, the agency arrested former Chief Financial Officer (CFO) Kingfisher Airlines A Raghunathan, an agency source said.

The three other arrested employees of Kingfisher Airlines include Shailesh Borkar, Amit Natkarni and AC Shah. Other former IDBI officials arrested include SK Srinivasan and Sridhar, agency sources said, adding the arrested accused will be produced before a designated court on Tuesday for seeking their custodial remand.

The Airlines officials besides Mallya are alleged to have colluded with IDBI bank officials for seeking a loan of Rs 900 crore without requisite eligibility. 

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