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CBI charges Vijay Mallya’s Kingfisher of diverting Rs 254 cr of Rs 900 cr IDBI loan for personal use

A day after the arrest of a former chairman and four other ex-officials of IDBI Bank along with four former executives of Kingfisher Airlines in connection with the Vijay Mallya loan default case, the Central

India TV Business Desk New Delhi Published on: January 24, 2017 19:54 IST
Kingfisher charged of averting Rs 254 cr of Rs 900 cr IDBI
Kingfisher charged of averting Rs 254 cr of Rs 900 cr IDBI loan for personal use

A day after the arrest of a former chairman and four other ex-officials of IDBI Bank along with four former executives of Kingfisher Airlines in connection with the Vijay Mallya loan default case, the Central Bureau of Investigation today filed a chargesheet against all the accused.

Each of the nine persons has been sent to judicial custody till February 7.

The chargesheet by the CBI accused Kingfisher Airlines of allegedly diverting Rs 254 crore of Rs 900 crore IDBI loan for personal use.


Those arrested include the then Chairman of IDBI Bank Yogesh Aggarwal and former CFO of now-defunct Kingfisher Airlines A Raghunathan.

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

Other IDBI executives arrested by CBI include O V Bundellu, S K V Srinivasan and R S Sridhar, they said.

The sources said besides former CFO of Kingfisher Airlines, three more former executives Shailesh Borke, A C Shah and Amit Nadkarni were also arrested.

The arrests were made from multiple cities.

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