ED seeks non-bailable warrant against Vijay Mallya

The Enforcement Directorate (ED) has moved to a special court in Mumbai to seek a non-bailable warrant against Vijay Mallya. The hearing is expected to be scheduled on 16 April.

This news came hours after the liquor baron's passport was suspended for four weeks.

Mallya was first summoned to appear on 18 March, next on 2 April, and finally on 9 April.

Sixty-year-old Mallya has failed to appear before the ED all the three times and repeatedly sought fresh dates. He left the country on 2 March, when the consortium of 13 banks that lent him money, moved to the Debt Recovery Tribunal.

Mallya, who defaulted on loans of over Rs 9,400 crore, offered an initial installment of Rs 4,000 crore and requested to settle the rest later.

Officials said that while seeking extensions, Mallya informed the ED that cases related to bank loans were currently sub-judice in the Supreme Court and he was trying to settle these loans with the help of his legal and corporate team and would require more time.

The Kingfisher chief is currently reported to be in London.

The Central Bureau of Investigation (CBI) had filed a case against Mallya for causing a loss of Rs 900 crore to IDBI. According to reports, the bank lent him loans despite negative credit ratings.

An FIR was registered under sections pertaining to criminal conspiracy, criminal breach of trust by a public servant or a banker, merchant or agent, and criminal misconduct by a public servant.