Vijay Mallya convicted in cheque-bouncing case by Hyderabad court
GMR Hyderabad International Airport Ltd had sued the former liquor baron after cheque payments amounting to Rs 2 crore did not go through.
Former liquor baron Vijay Mallya was found guilty in a cheque-bouncing case filed against him by GMR Hyderabad International Airport Ltd, reported PTI. GMR had sued Mallya, his now-defunct Kingfisher Airlines and a senior official of the company after cheque payments amounting to Rs 2 crore did not go through. On April 15, a Hyderabad court had issued a non-bailable warrant against the accused in the case. The court will reveal the quantum of punishment on May 5.
Mallya has been involved in a slew of legal issues. He owes around Rs 9,000 crore to 17 Indian banks, who have taken him to court. The Rajya Sabha member's passport was suspended by the central government last week on the recommendation of the Enforcement Directorate, which is investigating money laundering worth Rs 950 crore in an IDBI loan fraud case against the 60-year-old. On Monday, a non-bailable warrant was issued against the businessman by a special Prevention of Money Laundering Act court in Mumbai for illegally moving Rs 430 crore of the Rs 950-crore bank loan abroad to acquire property.