Mumbai court issues non-bailable warrant against fugitive businessman Vijay Mallya
The order came on an application filed by the CBI, which alleged that the businessman caused losses of Rs 180 crore to the government-run Indian Overseas Bank.
A special court in Mumbai has issued a non-bailable warrant against fugitive businessman Vijay Mallya in a Rs 180-crore loan default case linked to the Indian Overseas Bank, reported Bar and Bench on Tuesday.
The order, issued by Special Judge SP Naik Nimbalkar on June 29, was made public only on Monday, according to The Times of India.
Nimbalkar passed the direction after taking note of several other non-bailable warrants against Mallya and his “fugitive” status.
“The non-bailable warrants are yet pending for execution,” said the judge. “It leads to the inference that the accused has evaded the process of law and was declared as Fugitive Economic Offender. Resultantly, in such a scenario, no purpose would be served by issuing process in the form of summons.”
The order came on an application filed by the Central Bureau of Investigation.
The central agency told the court that Mallya “intentionally defaulted” on loan payments, which resulted in losses of over Rs 180 crore for the government-run Indian Overseas Bank.
In 2016, Mallya was booked under charges of the Indian Penal Code pertaining to criminal conspiracy (Section 120B) and cheating (Section 420). He was also charged under the Prevention of Corruption Act.
The businessman had fled the country in March 2016 and has been living in the United Kingdom since. The Indian government is seeking to extradite him so that he can be tried on charges of fraud and money laundering.
Mallya allegedly owes over Rs 9,000 crore in debts of his now-defunct Kingfisher Airlines to a consortium of banks led by the State Bank of India.