CBI arrest ex-IDBI chief Yogesh Aggarwal, 7 others in Vijay Mallya loan case
The CBI on Monday arrested four former IDBI Bank officials, including a former Chairman, and four former executives of now-defunct Kingfisher Airlines in its ongoing probe into the Vijay Mallya loan default case, officials said.
 
A senior Central Bureau of Investigation (CBI) official requesting anonymity told IANS: "The agency on Monday arrested former Chairman of IDBI Bank Yogesh Agarwal from Delhi and three other former employees -- S.K.V Srinivasan, O.V. Bundelkhand and Sridhar -- from other places."
 
"The four former employees of the Kingfisher Airlines, who were also arrested included its former CFO A. Raghunath, Shailesh Borkar, Amit and A.C. Shah," the official said.
 
Earlier in the day, the CBI raided at over 11 places in Delhi, Bengaluru and Mumbai.
 
Confirming the searches by the investigating agencies at its offices in Bengaluru, UB Group in a statement said: "A CBI team visited the UB Group offices in Bengaluru today (Monday) and we are fully cooperating with them."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    B. Yerram Raju

    3 years ago

    People are fast losing trust in the financial sector with such men in high places getting into jails. Earlier, Syndicate Bank chief, United Bank of India Chief were arrested and we do not know what is happening to those cases. Yogesh Agarwal was the Dy. MD of SBI when the SBI consortium sanctioned the first Kingfisher Loan. He chose to sanction another Rs.900cr to Kingfisher after declaring it as NPA by the consortium. It was a Board sanctioned loan, where a Government representative and RBI representative were on the Board. These official nominees should be called upon to explain what role they were playing when such loans were sanctioned and if necessary, action should be initiated for their culpability.

    Onkarnath Adiga

    3 years ago

    Too late too little. Corruption at higher places couldn't have been possible without political patronage of erstwhile UPA Government. Nothing likely to come out.

    REPLY

    B. Yerram Raju

    In Reply to Onkarnath Adiga 3 years ago

    Better late than never. Pre-judging the outcome may not be right.

    Kushal Kumar

    3 years ago

    The news of a scam of financial nature involving IDBI officers also is worrisome for the nation. There could surface many more in time to come. Closely relevant to the said news , readers may like to know this Vedic astrology writer’s alerts for more care and strategy in article “ 2017 – an opportune year for India with major worrisome concerns in February-March and August-September” ( Also known as “ Probable Predictions in relation to India in coming year 2017”) issued widely to Indian news media last year in October and November 2016. It was opined that first three months of year 2017 from January to March could be termed as one basket from the angle of similarity of planetary influences , while February –March could likely present major worrisome concerns. Financial or trading scams in places such as Delhi , Mumbai and the like could be in the news. Some political leaders or officials comparable to them may probably face some consequence of wrong-doing allegedly done in past. It seems the financial-trading scam allegedly involving IDBI top ranking officials highlighted in the news points to accuracy of the alert prediction of this writer.

    Life is back to normal in Chennai and Tamil Nadu
    Life is back to normalcy on Tuesday here and in other parts of Tamil Nadu a day after the violence by supporters of Jallikattu-the bull taming sport.
     
    "The area is calm now. Buses, suburban and metro trains are operating," a resident of Triplicane told IANS.
     
    Triplicane is near Marina Beach and its streets saw pitched battle on Monday between police and the protesters.
     
    A large contingent of police force is deployed at Marina as a precautionary measure.
     
    The Southern Railway for the first time during the past couple of days did not cancel any train fully, though partial cancellations and rescheduling and diversion of trains were announced.
     
    On Monday police resorted to forcible removal of youth protesting for Jallikattu which in turn resulted in the large scale violence here.
     
    Commissioner of Police Chennai S. George on Monday told reporters that anti-national forces had infiltrated the protest and hence the police action.
     
    In other parts of the state protesters were dispersed by the police.
     
    In the evening the Tamil Nadu assembly passed a law legalising Jallikattu.
     
    The local community at Alanganallur in Madurai announced their decision to hold Jallikattu on February 1.
     
    Alanganallur is famous for the sport.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    Tamil Nadu passes bill to legalize Jallikattu
    The Tamil Nadu assembly on Monday passed a bill that replaces an ordinance and legalizes Jallikattu, the bull taming sport, in the state.
     
    The bill replaced the ordinance that was promulgated on Saturday amending the Prevention of Cruelty to Animals Act.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    SRINIVAS SHENOY

    3 years ago

    I feel that the Supreme Court would not have banned the bull taming sport, if it was just a source of entertainment to the common people.

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