Mumbai Court Issues Non-Bailable Warrant Against Vijay Mallya in Rs 180-Crore Loan Default Case

A special court in Mumbai has issued a non-bailable warrant against Vijay Mallya in connection with a Rs 180-crore loan default case involving Indian Overseas Bank. The CBI claims Mallya caused significant financial loss through defaults and diversion of funds. Mallya, currently in London, faces extradition to India.

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 Indian Overseas Bank (IOB).

The warrant was issued by special CBI court judge SP Naik Nimbalkar on June 29, and the detailed order was made available on Monday. The court noted that Mallya's status as a 'fugitive' made this a fit case for an open-ended warrant to secure his presence.

The Central Bureau of Investigation (CBI) alleges that the 68-year-old liquor tycoon caused a wrongful loss of over Rs 180 crore to a government-run bank by 'wilfully' defaulting in payments. Mallya, declared a Fugitive Economic Offender in another money laundering case, resides in London; India's government is seeking his extradition.

The allegations involve the diversion of loans availed by the then-operational Kingfisher Airlines from IOB between 2007 and 2012. Multiple non-bailable warrants and summonses have been issued against Mallya, who left India in March 2016. Given his fugitive status, the CBI argued successfully for an open-ended warrant.

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