Vijay Mallya Faces New Warrant in ₹180-Crore Loan Default Case, CBI Issues NBW

Fugitive businessman Vijay Mallya is facing new legal action from the Central Bureau of Investigation (CBI). A special CBI court has issued a non-bailable warrant (NBW) against him in connection with a ₹180-crore loan default case involving Indian Overseas Bank (IOB). The warrant, issued by Judge SP Naik Nimbalkar on June 29, was detailed in an order released on Monday.

The CBI’s warrant alleges that Mallya, the former promoter of Kingfisher Airlines, caused a wrongful loss of ₹180 crore to the government-run bank by deliberately not repaying the loan.

Currently he is residing in London. Mallya has been declared a fugitive economic offender in a money laundering case under investigation by the Enforcement Directorate (ED). The Indian government is seeking his extradition.

The CBI court’s warrant is linked to a cheating case registered by the central agency concerning loans taken by Kingfisher Airlines between 2007 and 2012. According to the chargesheet, the loan was granted based on an agreement, but Mallya dishonestly intended to cheat by willfully defaulting on repayment, resulting in a wrongful loss of ₹141.91 crore. An additional loss of ₹38.30 crore was incurred due to the conversion of loans into shares.

The CBI’s plea described Vijay Mallya as “a fugitive and an absconder” who continues to reside in England and evade the law in India.

Taking into account the CBI’s submission, the court noted that Mallya has absconded, been declared a fugitive, and has pending NBWs in other cases. Therefore, issuing a summons to him would not serve any purpose.