Embattled Indian tycoon Vijay Mallya, who has been declared a proclaimed offender, was today arrested in London by Scotland Yard on India's request for his extradition on fraud charges. However, three hours after his arrest, various TV channels stated that he had been granted bail three hours after his arrest.
Embattled Indian tycoon Vijay Mallya, who has been declared a proclaimed offender, was today arrested in London by Scotland Yard on India's request for his extradition on fraud charges. However, three hours after his arrest, various TV channels stated that he had been granted bail three hours after his arrest.
Here's a timeline of the entire series of events.
November 4, 2009
Kingfisher Airlines (KFA) reports a second quarter net loss of Rs 418.77 crore, lays off nearly 100 pilots.
November 25, 2010
KFA Board approves debt recast package. It’s debt stands at over Rs 6,000 crore.
September 28, 2012
Turning down a request for Rs 200-crore working capital loan, the SBI-led lenders consortium asks SBI Capitals to chalk out a fresh revival plan.
October 2, 2012
The carrier declares partial lockout, following a strike by a section of its employees.
October 12, 2012
Non-bailable arrest warrant issued against Mallya & four other directors for non-appearance in cases relating to bouncing of cheques.
October 20, 2012
The airline’s permit is suspended and experts say United Breweries group needs to pump in over Rs 3,000 cr to get KFA airborne again.
November 10, 2012
Mallya loses Royal Challenge when Diageo announces its decision to acquire 53.4% stake in United Spirits Ltd. (USL) for Rs.11,166.50 cr.
December 31, 2012
The carrier loses its flying licence as the DGCA refuses to renew its Air Operator Permit (AOP).
February 17, 2014
CEO Sanjay Aggarwal quits KFA.
July 17, 2014
The Airlines is declared to be the top NPA of the country as it fails to repay loans of over 4,000 crore, mostly borrowed from state-owned banks.
August 9, 2014
CBI institutes a preliminary inquiry against IDBI Bank & KFA. The bank had sanctioned a loan of Rs 950 crore despite the carrier’s negative rating.
August 21, 2014
Punjab National Bank issues notice to KFA alleging that it has willfully defaulted in payment of outstanding dues of over Rs 770 cr.
September 1, 2014
United Bank of India (UBI) declares Vijay Mallya and the three directors of KFA as willful defaulters.
September 2, 2014
SC denies relief to KFA challenging the decision of the Grievance Redressal Committee of UBI to declare the airline and its promoter Vijay Mallya as willful defaulters.
February 24, 2015
A 17-bank consortium led by SBI takes over possession of the prized Kingfisher House, estimated to be worth Rs 100 cr.
October 10, 2015
CBI conducts searches at Mallya's offices in connection to the Rs. 950 cr loan that IDBI Bank had provided KFA.
February 16, 2016
PNB declares United Breweries Holdings ‘willful defaulter’.
February 27, 2016
The SBI-led consortium of lenders moves the Debt Recovery Tribunal (DRT) to Mallya’s passport.
February 28, 2016
Mallya exits USL.
March 2, 2016
Mallya leaves India for United Kingdom (UK), government informs court later.
March 8, 2016
Banks move SC to ban Vijay Mallya’s overseas travel.
March 30, 2016
SC hears Mallya's case who offers to repay Rs. 4000 cr. to banks by September, 2016 and gives banks a week's time to decide.
April 7, 2016
The bank consortium refuses to accept Mallya's offer.
April 15, 2016
MEA suspends Mallya’s passport for four weeks.
April 24, 2016
MEA revokes Mallya’s passport under Section 10(3)(c) & (h) of Passports Act.
May 2, 2016
Vijay Mallya resigns from the Rajya Sabha.
May 11, 2016
UK says that Mallya cannot be deported and asks India to seek his extradition.
May 13, 2016
Kingfisher Villa at Candolim, north Goa is taken over by the bankers' consortium, represented by SBI Caps.
June 9, 2016
CBI forms a Special Investigation Team (SIT).
August 13, 2016
CBI registers a fresh case against Vijay Mallya for allegedly cheating a consortium of nationalised banks to the tune of Rs 6,027 cr.
September 3, 2016
ED attaches Mallya’s properties and shares worth Rs 6,630 cr.
November 4, 2016
The Court issues a Non-Bailable warrant against him for allegedly evading summons in a case of FERA violation.
November 7, 2016
At a bilateral meeting between PM Narendra Modi and UK PM Theresa May, India hands over a list of 60 wanted people, including Vijay Mallya, for extradition.
November 16, 2016
SBI writes off loans of 63 wilful defaulters including Vijay Mallya’s Kingfisher Airline’s outstanding dues of almost Rs 1201 cr.
November 21, 2016
CBI obtains a non-bailable warrant against Mallya.
January 19, 2017
The Bangalore Debt Recovery Tribunal (DRT) allows banks to attach properties and recover their Rs 6,203 crore taken by Mallya for KFA at the interest rate of 11.5% p.a.
February 7, 2017
Karnataka High Court orders the winding up of United Breweries Holdings Ltd (UBHL), the parent company of UB Group, for recovering dues payable by the UBHL-promoted defunct Kingfisher Airlines.
February 9, 2017
Acting on the CBI and ED plea, the MEA formally submits papers for Vijay Mallya extradition to the UK High Commission.
April 8, 2017
Actor and producer Sachiin Joshi buys Kingfisher Villa for a little over Rs 73 crores.
April 18, 2017
Scotland Yard police arrests Vijay Mallya in London. He is granted bail three hours after arrest
With Inputs from DNA Research and Archives
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Mallya")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}