CBI arrests Kingfisher, IDBI officials in Vijay Mallya loan default case

| Updated: Jan 24, 2017 03:38 IST

New Delhi [India], Jan. 23 (ANI): The Central Bureau of Investigation (CBI) on Monday arrested four Kingfisher officials and four4 Industrial Development Bank of India (IDBI) officials including ex-chairman of the bank in Vijay Mallya loan default case. Earlier today, CBI had raided the offices of Mallya's United Breweries (UB) group in Bengaluru. The Debt Recovery Tribunal (DRT) earlier on January 19 allowed Kingfisher Airlines' consortium of 17 banks to start the proceedings to recover over Rs. 6,000 crore from liquor baron Vijay Mallya. The DRT allowed original application of the bankers (i.e bankers could begin process to recover the amount). It gave its decision in the favour of the State Bank of India-led consortium of banks. Earlier in June 2016, the SBI had pleaded before the DRT to grant the recovery certificate for beginning the proceedings against Mallya for recovery of debts from him in the bank loan default case. Mallya, who is in London since March 2, 2016, owes Kingfisher Airlines' 17-bank consortium over Rs 6,000 crore. The DRT had given the banks led by State Bank of India (SBI) a go-ahead to start the recovery of Rs 6,203 crore owed to them. (ANI)