Printer Friendly

CBI moves papers to bring back Mallya from UK.

ARMED with a non- bailable warrant from a Mumbai court against Vijay Mallya, the CBI is initiating the process for the beer baron's extradition from the United Kingdom.

A request for extradition will soon be forwarded to the designated authorities in the UK through diplomatic channels, CBI sources confirmed on Monday.

The CBI obtained a non- bailable warrant against Mallya and has moved an extradition request from the Special Court to competent authorities in the United Kingdom, an official said.

Sources said that the agency is also examining the role of top bankers of IDBI which had extended over Rs 900 crore loan to now defunct Kingfisher Airlines in 2008- 09.

They claimed that CBI has got sufficient evidence against Mallya and despite notices he has not joined the investigations.

Mallya had left the country in March and is reported to be holed in a country mansion near London. CBI , in its October 16, 2015 request to issue a lookout circular, had said if Mallya tried to leave the country, he should be detained at the exit point. Nearly a month later in November, the agency asked for a revised circular, where it asked the Bureau of Immigration ( BoI) to only inform it about his departure and travel plans.

As per agency sources, the lookout circular depends on the issuing authority and unless they ask BoI to detain a person or stop him from boarding a plane, no action is taken. They said after CBI changed the lookout notice, BoI did not make any attempt to stop him from travelling abroad, and every time he travelled the agency was duly informed about it.

Mallya is facing the CBI probe for defaulting on repayment of loans of Rs 900 crores taken from IDBI. In total, the former liquor baron owes several banks a total of as much as Rs 9,000 crores.

State Bank of India, which leads the consortium of 17 banks that lent money to the grounded Kingfisher Airlines, had moved Debt Recovery Tribunal ( DRT) in Bengaluru against the airlines chairman Mallya in its bid to recover over Rs 7,000 crore of dues from him. The CBI had registered a case against Mallya, Kingfisher Airlines ( KFA), Chief Financial Officer of the airlines A Raghunathan and unknown officials of IDBI Bank alleging that Rs 900 crores that IDBI sanctioned Mumbai court issues non- bailable warrant

Copyright [c] 2016 India Today Group. All Rights Reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2016 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Mail Today (New Delhi, India)
Geographic Code:4EUUK
Date:Nov 22, 2016
Words:412
Previous Article:BREATHER ON HOME AND CAR LOANS.
Next Article:Tatas up ante in turf war against Cyrus.
Topics:

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters