Mallya arrest warrant issued

As Vijay Mallya is accused of absconding to the UK to avoid facing a tribunal in India, which is seeking to gain access to the $40 million recently paid out to him to relinquish the chair of UB Group, a magistrate court in Hyderabad has issued a non-bailable warrant (NBW) against him for failing to appear in the court for a case against a Rs 50-lakh cheque default by Kingfisher Airlines to GMR Hyderabad International Airport. Mallya is being pursued by a consortium of 17 banks led by the State Bank of India, to recover Rs 7,200 crore in loans.