Vijay Mallya in trouble as Indian court issues arrest warrant
By Berthold Bouman
More trouble for Vijay Mallya and his Kingfisher airline as the Times of India reported a local Hyderabad court on Friday issued non-bailable warrants against the airline chairman and three of his company executives.
The warrants were issued after they failed to respond to summons related to a case against them for four bounced cheques involving a total of 100 million rupees, the case was filed by GMR Hyderabad International Airport Ltd.
The newspaper also claims the Counsel of Kingfisher sought exemption from appearance on Friday for Mallya and the three others but the court dismissed the plea.
The Force India boss is in big trouble indeed as the cash-strapped Kingfisher Airlines has been grounded since the beginning of the month after its personnel went on strike over unpaid salaries. Mallya had called upon his personnel not to go on strike and not to ‘disgrace’ Kingfisher Airlines, but they refused. As a result, Kingfisher Airlines has been shut down until October 20.
Mallya now faces arrest in his native India, it is unknown what the impact of his arrest could have on his Formula One team, in most countries ‘check bounce’ is a criminal offence, but experts say Mallya will not be arrested immediately and it is more likely a new court date is set.
According to Forbes.com, as of March 2010, Mallya, was worth US $1 billion, and the Times of India reported ‘Mallya is known for his lavish parties, villas, automobiles, Force India, Royal Challengers Bangalore and his yacht, the Indian Empress’.