Panaji: CBI sleuths raided the posh residence here of liquor baron Vijay Mallya, who is being probed in connection with the Rs.900 crore bank loan to his now defunct Kingfisher Airlines.

Vijay mallya

Vijay mallya. Pic/ AFP

The raid at the Kingfisher Villa, an expansive property in the tony Candolim beach area, located 15 km from here, was conducted around 3 p.m. by a Central Bureau of Investigation (CBI) team from Mumbai.

The raid was part of a joint operation by the central agency at other offices and residences owned by Mallya in Bengaluru and New Delhi.

Mallya, top officials of Kingfisher Airlines and the IDBI bank are being probed by the CBI in connection with the Rs. 900 crore loan to the aviation company in violation of banking norms.