New Delhi: The Central Bureau of Investigation (CBI) on Monday arrested four former executives of Kingfisher airlines along with a former chairman and three other ex-officials of IDBI Bank in connection with the Vijay Mallya loan default case.

CBI sources told CNN News18 that those arrested include the former CFO of now-defunct Kingfisher Airlines A Raghunathan along with ex chairman of IDBI Bank Yogesh Aggarwal

Apart from Raghunathan, the agency also arrested AVP Shailesh Porkar, DGM of finance Amit Nadkarni and senior accounts manager AC Shah who worked for the now defunct Kingfisher airlines.

From IDBI bank, apart from Agarwal, they arrested BK Batra who was deputy MD of IDBI, OV Bundelu who was the then deputy MD, SKV Srinivasan who was the then ED and RS Sridhar who was the then GM.

The arrests were followed by searches at 11 places including Mallya's residence here, three floors of UB towers in Bengaluru and residences of Aggarwal and Raghunathan among others.

UB Group issued a statement in Bengaluru confirming the visit of CBI team.

"A CBI team visited the UB Group offices in Bengaluru today and we are fully cooperating with them," a UB group spokesperson said.