SAN FRANCISCO (Diya TV) — The Indian government has revoked the passport of business tycoon Vijay Mallya, who has been accused of taking solace in Britain to avoid the huge debts accrued from his now-defunct Kingfisher Airlines.
An arrest warrant has been issued for Mallya, and Delhi officials have said they are considering seeking his deportation from the United Kingdom. Additionally, authorities have given Mallya one week to respond as to why he thinks his passport should not be impounded or revoked.
A businessman known regularly for his flamboyant nature, Mallya had vested interests in aviation, cricket and a Formula 1 racing car team at one point. However, his debts were triggered by the failure of Kingfisher Airlines in 2013. Mallya is believed to have $1.4 billion in unpaid debts because of the airline’s collapse.
Over the course of the past month, Mallya has taken to his Twitter account to deny allegations he’s hiding anywhere, and has also criticized what he believes to be a “media trial.”
I am an international businessman. I travel to and from India frequently. I did not flee from India and neither am I an absconder. Rubbish.
— Vijay Mallya (@TheVijayMallya) March 10, 2016
As an Indian MP I fully respect and will comply with the law of the land. Our judicial system is sound and respected. But no trial by media.
— Vijay Mallya (@TheVijayMallya) March 10, 2016
Also last month, Mallya was blocked from receiving a $75 million severance payment from British drinks giant Diageo. He was due to receive the money after being ousted from the company in February, but a consortium of banks and creditors had demanded the money received should be used to settle the debts Mallya had with them.
The consortium of 17 banks, led by the State Bank of India, reject Mallya’s proposal to pay $600 million by September to settle his loans. The group said his offer was inadequate and subject to far too many conditions. Following the rejection, the Supreme Court in New Delhi asked Mallya to fully disclose all of his assets.
