Non-bailable warrant against Vijay Mallya, A special court in Mumbai has issued a non-bailable warrant (NBW) against fugitive businessman Vijay Mallya in the Rs 180 crore loan default case involving the Indian Overseas Bank (IOB). CBI Special Court Judge S.P. Naik Nimbalkar issued the non-bailable warrant against Mallya on June 29. A copy of the detailed order was made available on Monday.
Taking note of the arguments and documents produced by the CBI and the fact that the accused is a fugitive and other non-bailable warrants issued against the 68-year-old businessman, the court said, “This is a fit case to issue a non-bailable warrant against him to secure his presence. The CBI has claimed that the promoter of the now-defunct Kingfisher Airlines had caused a loss of over Rs 180 crore to the public sector bank by wilfully defaulting on payments.”
Vijay Mallya is currently living in London
Liquor baron Mallya has already been declared a fugitive economic offender in a money laundering case registered by the Enforcement Directorate (ED). He is currently living in London and the Indian government is trying to extradite him. This warrant is related to a fraud case registered by the CBI. According to the investigating agency, loans taken from the IOB by the then Kingfisher Airlines between 2007 and 2012 were allegedly used for other purposes.