IDBI loan case: CBI court issues warrant against Mallya
New Delhi : In a huge jolt to beleaguered businessman Vijay Mallya, the CBI special court issued a non-bailable warrant against him in the IDBI Bank loan default case. The CBI also sought his extradition from the UK.
Special judge for CBI cases HS Mahajan issued the NBW after the agency’s affidavit provided Mallya’s precise address in the UK.
Earlier, the CBI arrested former chairman of IDBI Bank Yogesh Aggarwal, former CFO of the Kingfisher Airlines (KFA) A Raghunathan, IDBI executives O V Bundellu, S K V Srinivasan, R S Sridhar, B K Batra and Kingfisher executives Shailesh Borke, A C Shah and Amit Nadkarni in the case.
The IDBI officials had showed undue favours to KFA in the sanctioning and disbursal of loans of Rs 1,300 crore .
About Rs 260 crore of the borrowed amount was diverted by KFA, while Rs 263 crore were used to pay salaries, TDS, income tax and loan instalments. A part of the loan amount was also diverted by Mallya for his personal expenses.
The court also heard the arguments on bail applications of the accused, all of whom are now in judicial custody. The hearing would continue on February 3.