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Non-Bailable warrant issued against Vijay Mallya

By LawStreet News Network      21 June, 2018 12:00 AM      0 Comments

A special court in Mumbai on Wednesday (June 20th, 2018) issued a non-bailable warrant against fugitive liquor baron Vijay Mallya for his involvement in a case of money laundering and cheating a consortium of banks.

After the Enforcement Directorate (ED) on Monday (June 18th, 2018) filed a fresh charge sheet, Special Judge MS Azmi issued a non-bailable warrant for Mr. Mallya’s arrest.

The court also issued summons against Mr. Mallya’s firms, Kingfisher Airlines (KFA) and United Breweries Holdings Ltd. (UBHL) and fixed the date of hearing on July 30th, 2018.

Earlier, the Enforcement Directorate filed its first charge sheet against Vijay Mallya in Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case.

The fresh charge sheet was filed under the provisions of the Prevention of Money Laundering Act, 2002 in pursuance of a complaint received from State Bank of India (SBI) on behalf of the association of banks for causing loss of Rs 6,027 crore to them by not keeping repayment commitments of the loans taken during 2005-10.

Mallya is currently facing a trial in the UK Court to rule if he can be extradited to India to face charges in the money laundering case.

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