A special court has directed issuance of arrest warrant against defaulter businessman Vijay Mallya and 18 others in the Kingfisher Airlines case, on a complaint filed by the Serious Fraud Investigation Office (SFIO).
The probe agency, which comes under the corporate affairs ministry, has come across various violations of companies law in the case related to Kingfisher Airlines, which was grounded in 2012.
A Special Court, constituted under the Companies Act, in Bengaluru, has directed issuance of arrest warrants against Mallya and 18 others, according to a court document.
Mallya, who has been based in the UK for a long time, is wanted in India for Kingfisher Airlines' default on loans worth nearly Rs 9,000 crore and some other matters.
As per the document, the amount involved in the case is high and a warrant has to be issued against all the accused.
Besides, the court has ordered registering of a "special criminal case" against the 19 entities.
Following its investigation, the SFIO had red-flagged a slew of violations of companies law by Mallya, Kingfisher Airlines and officials, including serious corporate governance lapses, sources had said.
Among others, the probe agency had recommended examining the role of some banks as well as bank officials in sanctioning credit facilities to the airline apart from action against promoter directors, they had said.
The ED and the Central Bureau of Investigation (CBI) have already filed their separate chargesheets against the businessman and other accused.
The extradition trial of Mallya is going on in a UK court and the next hearing would start on 10 January.
Last August, the SFIO was given powers to arrest people for violations of companies law after the ministry notified relevant provisions.
(We Indians have much to talk about these days. But what would you tell India if you had the chance? Pick up the phone and write or record your Letter To India. Don’t be silent, tell her how you feel. Mail us your letter at lettertoindia@thequint.com. We’ll make sure India gets your message.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)