Arrest warrant issued for India billionaire Mallya
- Published: 12 Oct 2012 at 18.49
- Online news: News
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.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
