Moneycontrol
you are here: HomeNewsBusiness
Apr 18, 2017 04:03 PM IST |

Rise and fall of Vijay Mallya

Mallya, who has been declared a willful absconder in India, is likely to be extradited and a team from the Central Bureau of Investigation (CBI) will visit the United Kingdom soon.

Rise and fall of Vijay Mallya

Liquor baron Vijay Mallya who is wanted in India for defaulting on loans worth Rs 9,000 crore has been arrested by the Scotland Yard in London. He will be produced before the Westminster Magistrates' Court there.

Mallya, who has been declared a willful absconder in India, is likely to be extradited and a team from the Central Bureau of Investigation (CBI) will visit the United Kingdom soon.

Mallya has repeatedly refused to appear before courts and investigators in India since he secretly fled to Britain last March, after defaulting on loan payments to state-owned banks and allegedly misusing the funds.

Here’s a look at the case history:

MAY 2005: KINGFISHER AIRLINES STARTS OPERATIONS

JUNE 2007: KFA ACQUIRES DECCAN AIRLINES

NOV 2010: BANKS RECAST KFA DEBT

DEC 2011: MUMBAI INTL AIRPORT SEEKS PAYMENT OF `90 CR DUES

DEC 2011: KFA ACCOUNTS FROZEN FOR NON-PAYMENT OF `70 CR

OCT 2012: PARTIAL LOCKOUT AT KFA, STAFF GO ON STRIKE

DEC 31, 2012: KFA LOSES FLYING LICENSE

AUG 2014: CBI PROBE AGAINST IDBI AND KFA

JUL 2015: CBI REGISTERS CASE AGAINST MALLYA AND KFA

OCT 2015: CBI CONDUCTS SEARCHES AT MALLYA’S OFFICE

DEC 2015: CBI QUESTIONS VIJAY MALLYA IN LOAN DEFAULT CASE

MAR 2016: MALLYA LEAVES COUNTRY, MOVES TO UK

JAN 23, 2017: CBI ARRESTS FMR IDBI CHAIRMAN YOGESH AGGARWAL, 8 OTHERS

JAN 24, 2017:  CBI FILES CHARGESHEET IN THE CASE
Sections
Follow us on
Available On