CBI Court Issues Warrant Against Vijay Mallya In IDBI Loan Default Case

A special court in Mumbai on Tuesday issued a non-bailable warrant against beleaguered businessman Vijay Mallya in the IDBI Bank loan default case as the CBI sought his extradition from the U.K.

"The court issued a non-bailable warrant against Mallya after we filed an affidavit seeking his extradition from the U.K.," said a CBI official, adding the warrant will be sent to that country through diplomatic channels.

Special judge for CBI cases HS Mahajan issued the non-bailable warrant after the agency's affidavit provided Mallya's precise address in the U.K.

"Earlier too, a non-bailable warrant was issued against him but then we did not know his location," the official said.

On January 24, the CBI filed a charge sheet in the IDBI loan default case against nine people arrested a day earlier: former chairman of IDBI Bank Yogesh Aggarwal, former CFO of the Kingfisher Airlines (KFA) A Raghunathan, former IDBI executives OV Bundellu, SKV Srinivasan, RS Sridhar, BK Batra and Kingfisher executives Shailesh Borke, AC Shah and Amit Nadkarni.

The CBI said undue favours were shown to KFA in the sanctioning and disbursal of loans of more than Rs 950 crore and there were many acts of omission and commission on the part of IDBI Bank officials in the process.

About Rs 260 crore of the borrowed amount was diverted by KFA, while Rs 263 crore were used to pay salaries, TDS, income tax and loan instalments. A part of the loan amount was also diverted by Mallya for his "personal expenses", the CBI charge sheet said.

The court also heard the arguments on bail applications of the accused, all of whom are now in judicial custody. The hearing would continue on February 3.

Also Read: 2 UB Group Firms Settled Dues Just Before Kingfisher Sought Fresh Loan From IDBI: CBI