The CBI has arrested 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.<br/><br/>CBI sources said, the purported mastermind former Deputy Managing Director BK Batra was arrested late last night and will be produced before a court in Mumbai today. Those arrested include the then Chairman of IDBI Bank Yogesh Aggarwal, former CFO of now defunct Kingfisher Airlines A Raghunathan. Sources said, three more former executives of the airlines<br/>and three more former officials of IDBI Bank have also been taken<br/>into custody. Other former IDBI executives arrested by CBI include OV Bundellu, SKV Srinivasan and RS Sridhar. The sources said besides former CFO of Kingfisher Airlines, three more former executives Shailesh Borke, AC Shah and Amit Nadkarni were also arrested.<br/><br/>The arrests were followed by searches at 11 places including Vijay Mallya's residence in Delhi, three floors of UB towers in Bengaluru, residences of Aggarwal and Raghunathan among others. The arrests were made from multiple cities. While Raghunathan was arrested in Mumbai, Aggarwal was taken into custody from Gurgaon.<br/><br/>CBI had registered a case against Mallya, Director of defunct Kingfisher Airlines, Chief Financial Officer of the Airlines; and unknown officials of IDBI Bank. The loan was allegedly sanctioned in violation of norms regarding credit limits. The sources said there was no need for the bank to take the exposure outside the consortium.

The CBI has arrested 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.<br/><br/>CBI sources said, the purported mastermind former Deputy Managing Director BK Batra was arrested late last night and will be produced before a court in Mumbai today. Those arrested include the then Chairman of IDBI Bank Yogesh Aggarwal, former CFO of now defunct Kingfisher Airlines A Raghunathan.<br/><br/>Sources said three more former executives of the airlines and three more former officials of IDBI Bank have also been taken into custody. Other former IDBI executives arrested by CBI include OV Bundellu, SKV Srinivasan and RS Sridhar. The sources said besides former CFO of Kingfisher Airlines, three more former executives Shailesh Borke, AC Shah and Amit Nadkarni were also arrested.<br/><br/>The arrests were followed by searches at 11 places including Vijay Mallya's residence in Delhi, three floors of UB towers in Bengaluru, residences of Aggarwal and Raghunathan among others. The arrests were made from multiple cities. While Raghunathan was arrested in Mumbai, Aggarwal was taken into custody from Gurgaon.<br/><br/>CBI had registered a case against Mallya, Director of defunct Kingfisher Airlines, Chief Financial Officer of the Airlines; and unknown officials of IDBI Bank. The loan was allegedly sanctioned in violation of norms regarding credit limits. The sources said there was no need for the bank to take the exposure outside the consortium.