Mumbai Court Issues Warrant Against Mallya
Move clears way to seek Interpol help to arrest bizman
Our Political Bureau
Mumbai: A court here issued a non-bailable warrant against Vijay Mallya in the IDBI loan fraud case, a development that may allow authorities to initiate steps to seek Interpol help to arrest the businessman who is currently abroad.
Mallya, who is expected to challenge the decision in a higher court, is accused of diverting .₹ 430 crore from the .₹ 900 crore his Kingfisher Airlines borrowed from the lender and using that to buy properties abroad. The company terms the allegation “false and incorrect”. The Enforcement Directorate, the finance ministry wing that probes money laundering, had summoned him thrice for testifying in the case, but he skipped all.
Mallya left India on March 2, after a consortium of banks approached the Supreme Court seeking its intervention to recover .₹ 9,000 crore that they claim he owed them.
The political and industrial super elites’ residences will remain in the smaller LBZ, but many of Delhi’s wealthiest residences will lose the tag of being in LBZ.
People familiar with the DUAC panel’s final report on LBZ told ET that super-posh areas set to be excluded from Lutyens are: Golf Links, Jor Bagh, Sunder Nagar, Chanakyapuri, Panchsheel Marg, Sardar Patel Marg, Ashoka Road and Bengali Market.
The report is with the Union urban development ministry, and it says LBZ’s square area should come down from 28.73 sq km to 23.60 sq km. This restricts LBZ to the original British Raj era plan, authored by Edwin Lutyens in 1912.
The original Lutyens plan included the Capital’s heritage buildings and government buildings. In 1988, the LBZ area of 25.88 sq km was demarcated for the first time. It was increased to 28.73 sq km in 2003. Inclusion in LBZ has sent real estate prices spiralling in the new areas.