The problems for business tycoon Vijay Mallya do not seem to be stopping soon, as in one of the significant developments, a special court in Mumbai has issued a non-bailable warrant (NBW) against the runaway businessman, in a case involving a default loan of Rs 180 crore linked to Indian Overseas Bank (IOB).According to the sources, the NBW was issued by the special CBI court on June 29, by Judge SP Nail Nimbalkar, with a detailed order on Monday. Considering his status as fugitive, the court has emphasised the necessity of his presence, citing various NBWs issued against him. Meanwhile, the Central Bureau of Investigation (CBI) which is investigating the case alleged that Mallya, the former promoter of now-defunct Kingfisher Airlines, has defaulted on several payment, causing a loss of over Rs 180 crore to the government-run bank. Mallya who is facing an extradition request from the Indian government is currently residing in London. The NBW issued relates to a case of embezzlement that the CBI filed, alleging that Mallya misappropriated loans that Kingfisher Airlines received from IOB between 2007 and 2012.These loan facilities were given to the airline under a restructuring arrangement approved by a group of eighteen banks, according to the chargesheet submitted by the CBI.Now, considering the details in the chargesheet, the CBI court has again issued summons against Mallya and five other individuals in the case. The court decided that it was reasonable to issue an open-ended NBW to secure Mallyas participation in court hearings, given his history of missing court dates and his status as a fugitive economic offender. This comes after Mallya left India in March 2016 amid claims of loan defaults and accusations of money laundering.
