CBI Issues NBW Against Fugitive Bizman Vijay Mallya

New Delhi: A special CBI court issued a non-bailable warrant against the fugitive businessman Vijay Mallya in the Rs 180-crore loan default case linked to Indian Overseas Bank (IOB). The NBW was issued against Mallya on June 29.

Following the court order, the CBI has issued the warrant.

Mallya, 68, is now residing in London. He has been declared a fugitive economic offender in the money laundering case being probed by the Enforcement Directorate (ED). The Indian government is trying for his extradition.

The warrant issued by the CBI court is linked to a cheating case registered by the CBI regarding the alleged division of loans availed by Kingfisher Airlines between 2007 and 2012. The chargesheet claims that Mallya with an intent to cheat, “willfully” defaulted on the repayment of the aforesaid loans and caused a wrongful loss of Rs 141.91 crore on account of default on loans. An additional loss of Rs 38.30 crore was caused by the conversion of loans into shares.

The CBI plea said that Vijay Mallya is “a fugitive and an absconder” who continues to live in England and “subvert the process of law in India.”