TIA NEWS /
CBI on Saturday carried out searches at residential and official premises of liquor baron Vijay Mallya and his defunct company Kingfisher Airlines in connection with Rs 900 crore bank loan fraud.
The investigating agency in a press release said the searches were conducted at 3 places in Mumbai and one each in Goa and Bangalore.
It said several incriminating documents found during the searches are being scrutinized.
The agency had registered a case against Mallya, Director of defunct Airlines , A Raghunathan, Chief Financial Officer of the Airlines and unknown officials of IDBI Bank on the charges of criminal conspiracy and corruption charges.
It is alleged that officials of IDBI colluded with Mallya and Raghunathan and sanctioned loan in violation of norms regarding credit limits causing loss to bank by such fraudulent act.
The CBI sources said an FIR into the alleged violations was registered recently as part of its wide probe into criminal aspects of loans declared to be non-performing assets by public sector banks.
The debt- ridden airlines stopped operations in October 2012.
He said all community peace committee meeting was called and markets remained open on Saturday. The situation is totally is under control.
In Goa also CBI team raided the liquor baron Vijaya Mallaya ‘s Kingfisher Villa in Candolim area on Saturday.
The raid was conducted by CBI team from Mumbai. The raids conducted in connection with alleged default of over Rs 900 crore loan form a Bank.