Central Bureau of Investigation (CBI) has arrested former IDBI chairman in Vijay Mallya loan default case, according to sources. Four executives of Kingfisher Airlines and three more former executives of IDBI Bank were also arrested by CBI, according to reports. 

Earlier in the day, in a development related to Vijay Mallya, a team of CBI officials today raided the offices of UB Group which is facing the process of recovery of Rs 6,203 crore from banks related to the Kingfisher Airlines case. Mallya was earlier declared a proclaimed offender by a court. 

According to a CBI official, “A team of CBI officials from Delhi visited the UB group offices in Bengaluru.” However, he refused to provide any further details. That the visit happened was confirmed by the UB Group spokesperson. He added that the company was cooperating with the authorities concerned.

Mallya had fled the country on March 2 for the United Kingdom and is now in the UK faces a money laundering probe against him in an alleged bank loan default case. #casansaar (PTI - Financial Express)