23/01/2017 11:02 PM IST | Updated 23/01/2017 11:13 PM IST

CBI Arrests Former IDBI Chairman, 7 Others In Vijay Mallya Loan Default Case

The arrests were followed by searches at 11 places.

Parivartan Sharma / Reuters
File photo of Vijay Mallya.

NEW DELHI -- CBI today 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.

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