CBI gets non-bailable warrant against Vijay Mallaya

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CBI gets non-bailable warrant against Vijay Mallaya
Noose tightens around Vijay Mallya, CBI gets non-bailable warrant
A special CBI court issued a fresh arrest warrant against Vijay Mallya to facilitate the investigative agency to extradite him.


The CBI today said it has obtained non-bailable warrant against fugitive businessman Vijay Mallya from a Mumbai court and is forwarding it to the UK government for extradition.
Mallya, who has been declared a proclaimed offender by an Enforcement Directorate (ED) court, allegedly owes thousands of crores of rupees in loans to various Indian banks.
The ED wants Mallya to join its investigation “in person” in connection with probe under the Prevention of Money laundering Act (PMLA), and in cases related to a Rs 900-crore loan from IDBI Bank.

The counsel said Mallya never cooperated with them in the investigation. After considering the circumstances, the special judge H S Mahajan, who was hearing the plea, issued non-bailable warrant against the liquor baron.
DUES OWED TO BANKS
Last week, facing heat over the State Bank of India reportedly waiving off Rs 7000 crore of NPAs, External Affairs Minister Sushma Swaraj in a written reply told Parliament that the government is serious about bringing back Mallya.
Around Rs 1,200 crore in dues owed by Mallya’s collapsed Kingfisher Airlines has been labelled as “write off” in the books of the SBI, which is the country’s largest lender.
“There is a little bit of malapropism involved in this. Don’t go by literal meaning write-off, it does not. Write-off does not mean loan waiver. Loan still remains,” Finance Minister Arun Jaitley later clarified in Parliament.
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The CBI, has also filed a case against Kingfisher Airlines Limited, its chief financial officer A Raghunathan and some officials of IDBI Bank for criminal conspiracy, criminal breach of trust and under the Prevention of Corruption Act.
Recently, the courts had issued two non-bailable warrants against Mallya in separate criminal cases, with both courts observing that he neither had any regard for law, nor any intention to return to India.