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Ex-IDBI Bank CMD Yogesh Agarwal gets bail

He is accused of showing 'undue favours' to now-defunct Kingfisher Airlines owned by Vijay Mallya

Press Trust of India  |  Mumbai 

Ex-IDBI Bank CMD Yogesh Agarwal gets bail

The Bombay Hugh on Friday granted bail to Yogesh Agarwal, former Chairman-cum-Managing Director of IDBI Bank, and another former employee in the Airlines loan default case.

Justice S S Jadhav granted the bail to Agarwal and former executive of the B K Batra on sureties of Rs one lakh each.

The CBI, which arrested them along with seven others on January 23, failed to explain why it needed the two accused to stay in prison after it had filed the charge sheet in the case, the judge said.

Agarwal and Batra are accused of having shown "undue favours" to the now-defunct Airlines owned by Vijay Mallya.

They sanctioned loans worth over Rs 1,000 crore to the airline despite its "weak financial record", said.

The noted that the further probe which the wanted to conduct was primarily about Mallya, who is believed to be in the

First Published: Fri, March 17 2017. 23:36 IST