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CBI arrest chairman of IDBI and other four excutives in Mallya's default loan case.

The Central Bureau of Investigation has arrested the former chairman of IDBI Bank and the CFO of Kingfisher Airlines, Yogesh Aggarwal…

By Administrator in News on January 24, 2017

The Central Bureau of Investigation has arrested the former chairman of IDBI Bank and the CFO of Kingfisher Airlines, Yogesh Aggarwal in connection with the probe of Vijay Mallya loan default case. According to the reports, four executives of Kingfisher Airlines and three executives of the IDBI bank were arrested by the CBI officials. Earlier that day the development related to Vijay Mallya, the team of CBI officials raided the offices that belonged to the UB Group which is facing off Rs 6,203 crore recovery from the banks that was related to the case of Kingfisher Airlines.
The people who were involved the case were arrested after the raids were set up at 11 places including the Vijay Mallya’s residence in New Delhi, three floors of the UB towers that were made by the UB group and even the residential place of Aggarwal and Raghunathan among others.
A senior official said that a team of CBI official had visited the UB group offices in Bengaluru and he refuses to give further details about the same. Meanwhile when the spokesperson had confirmed the visit of officials at the office and the group was fully in cooperation with them.
Mallya who left the country on 2nd of MArch and who is now in Uk has been declared a proclaimed offender by an individual People’s Money Laundering Act in Mumbai on the plea by the ED (Enforcement Directorate) in connection with the act of money laundering probing against the alleged default bank loan case.

The Indian government has told the British authorities to send Vijay Mallya back to face the law here. The request put by the Indian authorities is been examined by the British authorities.

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