INDIA: UB Group chairman hit with warrant as airline cheque bounces – report
A warrant has been issued for UB Group's Vijay Mallya in India
A 'non-bailable warrant' for Vijay Mallya, the head of India's UB Group, has been issued in the country, according to local reports.
Indian TV channel Times Now reported earlier today (12 October) that Mallya has been named in a warrant issued by Hyderabad metropolitan court. Mallya, who also heads up Kingfisher Airlines, was due to appear in court in the region today to explain why a cheque for INR105m (US$2m) to Hyderabad International Airport had bounced.
The cheque had been issued in January to cover Kingfisher's charges for use of the airport.
Mallya was among several group executives set to appear in court, although lawyers for UB said he would be unable to attend the hearing as he is out of the country. The lack of documentation to show that Mallya was abroad prompted the warrant, the news report said.
Kingfisher has become a financial millstone for Mallya, as the airline is close to bankruptcy.
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