Court denies bail to former IDBI Bank CMD in KFA loan case

A CBI court yesterday refused bail to a former CMD of IDBI Bank and two others in the loan default case involving the defunct Kingfisher Airlines (KFA).

Vijay Mallya, former KFA chairman, is a wanted accused in the case. “The bail (applications) of Yogesh Aggarwal (former CMD of IDBI Bank), A Raghunathan (former CFO of KFA) and IDBI executive B K Batra is rejected,” said the special judge for CBI cases H S Mahajan. However, bail was granted to IDBI executives O V Bundellu, S K V Srinivasan and R S Sridhar.

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