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Non-bailable warrant issued against Vijay Mallya by Special CBI court in Mumbai

The Special CBI Court In Mumbai On Tuesday Issued Non-bailable Warrant Against Beleaguered Liquor Baron Vijay Mallya After The Investigating Agency Moved An Extradition Plea.

News Nation Bureau | Edited By : Bindiya Bhatt | Updated on: 31 Jan 2017, 05:50:59 PM
Vijay Mallya (File photo: Getty)


The Special CBI court in Mumbai on Tuesday issued non-bailable warrant against Beleaguered liquor baron Vijay Mallya after the investigating agency moved an extradition plea.

On January 25, market regulator Sebi had barred Mallya and six others from the securities market in a case related to alleged funds diversions from United Spirits, a company which the tycoon promoted before selling it to Diageo. He had resigned as director and chairman of USL in March 2016.

On January 27, the Karnataka High Court had issued a bailable arrest warrant against Mallya for allegedly violating an undertaking given by him and his companies not to transfer their equity shares in United Breweries Holdings Limited (UBHL) to British spirits company Diageo Plc.

The warrant was issued after Mallya failed to appear before the bench on petitions filed by a consortium of banks led by State Bank of India.

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The banks have accused Mallya of violating the undertaking given by him and his companies, including the now defunct Kingfisher Airlines, not to transfer their equity shares in UBHL after the Debt Recovery Tribunal (DRT) had restrained Standard Chartered Bank, with which the shares had been pledged, from handing over the same to Diageo Plc.

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(With inputs from agencies)

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First Published : 31 Jan 2017, 05:47:00 PM

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