Trouble mounts for Vijay Mallya : CBI issues non-bailable warrant in Rs 180-crore loan default case against fugitive businessman
Trouble mounts for Vijay Mallya : The trouble has mounted for fugitive businessman Vijay Mallya, who is facing renewed legal challenges from the Central Bureau of Investigation (CBI) after a special court issued a non-bailable warrant against him.
This action is related to a case involving a Rs 180-crore loan default linked to Indian Overseas Bank (IOB). The non-bailable warrant against Mallya was issued on June 29 by Special CBI Court Judge SP Naik Nimbalkar, with a detailed order released on Monday.
The court observed, "The present case is of multiple loans amounting to nearly Rs180 crores given by Indian overseas Bank between 2007-2012 to Vijay Mallya and his company. There are a total of 10 accused in this case including Vijay Mallya and the FIR was registered in this case in August 2016. All accused have been issued summons to appear but for Vijay Mallya, the special CBI court has issued non-bailable warrant also."
Vijay Mallya, currently residing in London, has been declared a fugitive economic offender in a money laundering case investigated by the Enforcement Directorate (ED).
The Indian government is actively seeking his extradition. A recent court decision, considering multiple non-bailable warrants against the 68-year-old businessman and his fugitive status, has issued an open-ended warrant to ensure his presence.
This warrant is linked to a cheating case filed by the CBI, alleging misappropriation of loans taken by Kingfisher Airlines between 2007 and 2012.
- With inputs from agencies
