Vijay Mallya: The story so far

By Rob 0

Vijay Mallya was arrested by Scotland Yard in London on India’s extradition request. He was released on bail a few hours after he appeared at a central London police station. Here’s a look at events that led to Tuesday’s development:

October, November 2009: IDBI Bank sanctions Rs1,100 crore loan to Kingfisher Airlines. (According to CBI chargesheet)

October 2011: Kingfisher delays salaries for second consecutive month

October 2012 : Government suspends Kingfisher Airlines’ licence

February 2013: Bankers say they have lost faith in the management’s ability to revive the company.

October 2015: CBI searches Kingfisher, Vijay Mallya offices in IDBI Bank loan probe

March 2016: Mallya leaves India on 2 March

March 2016: Debt recovery tribunal (DRT) blocks Mallya from getting his hands on a $ 75 million payout by Diageo Plc.

March 2016: Banks move Supreme Court to stop Mallya from leaving India

April 2016: Supreme Court directs Mallya to disclose all assets

23 January 2017: CBI arrests former IDBI Bank chairman Yogesh Aggarwal, 7 others

25 January 2017: CBI charges Mallya with fraud, criminal conspiracy

25 January 2017: Sebi restrains Mallya from trading in securities markets

March 2017: Mallya says he is ready to talk to banks for one-time settlement of loans

25 March 2017: UK certifies India’s request for Mallya’s extradition

8 April 2017: Mallya moves SAT against Sebi order barring him from securities market

18 April 2017: Mallya arrested in London; extradition proceedings begin in UK court

Sahib Sharma

First Published: Wed, Apr 19 2017. 04 25 AM IST