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Here's How the 'King of Good Times' Became an 'Absconder'

Here is a look at the timeline of events in the Mallya's loan default case.

News18.com

Updated:June 13, 2017, 4:27 PM IST
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Here's How the 'King of Good Times' Became an 'Absconder'
File photo of liquor baron Vijay Mallya.
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Liquor tycoon Vijay Mallya, who is wanted in India on loan defaults to several banks, is appearing today before Westminster Magistrates' Court in London for his extradition case hearing. The 61-year-old, former chief of the now defunct Kingfisher airlines, has been out on bail since his arrest in April and will on Tuesday find out the timetable to be set by the judge to hear the arguments for and against his extradition in what is referred to as a "case management hearing".

Here's a look at how Mallya, known as for his flamboyant lifestyle, went from 'The King of Good Times' to an absconder:

MAY 2005: Kingfisher Airlines starts operations

JUNE 2007: Kingfisher Airlines acquires deccan airlines

NOV 2010: Banks recast Kingfisher Airlines debt

DEC 2011: Mumbai International Airport seeks payment of Rs 90 crore dues

DEC 2011: Kingfisher Airlines accounts frozen for non-payment of Rs 70 crore

OCT 2012: Partial lockout at Kingfisher Airlines, staff go on strike

DEC 31, 2012: Kingfisher Airlines loses flying license

AUG 2014: CBI probe against IDBI and Kingfisher Airlines

JUL 2015: CBI registers case against Mallya and Kingfisher Airlines

OCT 2015: CBI conducts searches at Mallya’s office

DEC 2015: CBI questions Vijay Mallya in the loan default case

MAR 2016: Mallya leaves India, shifts to UK

JAN 23, 2017: CBI arrests former IDBI Chairman Yogesh Aggarwal, 8 others

JAN 24, 2017: CBI files charge sheet in the case related to the Rs 900 crore loan in favor of Kingfisher Airlines in violation of rules

FEB 10, 2017: India requests UK High Commission for Vijay Mallya’s extradition

FEB 28, 2017: Court allows Enforcement Directorate to attach Mallya’s assets worth Rs 4,200 crore

MARCH 1, 2017: Finance Minister Arun Jaitley travels to UK, Prime Minister Theresa May breaks protocol to meet him, Mallya’s extradition among the issues discussed

MARCH 18, 2017: A Mumbai Court issues a non-bailable arrest warrant and an extradition order against Mallya in a service tax default case

MAR 25, 2017: UK authorities start legal process to extradite Mallya to India

APRIL 8, 2017: Mallya’s Kingfisher Villa sold for Rs 73 crore to actor Sachin Joshi

APRIL 12, 2017: A Delhi court issues an open ended non-bailable warrant against Mallya for evading summons in a FERA (Foreign Exchange Regulation Act) violation matter

APRIL 18, 2017: Scotland Yard arrests Vijay Mallya for his extradition to India; loan default of over Rs 9,000 crore among several cases against him. He is released on bail almost immediately

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| Edited by: Swati Sharma
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