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.
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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app