Arrest warrant issued for India billionaire Mallya | Bangkok Post: business

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Arrest warrant issued for India billionaire Mallya

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An Indian court filed an arrest warrant Friday for Vijay Mallya, a Formula One tycoon nicknamed the "King of Good Times", over allegations that cheques written by his troubled airline had bounced. 

Vijay Mallya, chairman and CEO of India's debt-ridden Kingfisher Airlines, pictured in Mumbai in 2011. A local court in the southern Indian city of Hyderabad on Friday issued an arrest warrant for billionaire Mallya, reports said. The warrant was issued against Mallya, who also owns a F1 team, over Kingfisher cheques to the operator of Hyderabad International Airport that bounced, reports said.

The non-bailable warrant was issued in the local sessions court in the southern city of Hyderabad against Mallya and four other executives in a dramatic escalation of the crisis facing his cash-strapped Kingfisher Airlines.

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