A special CBI court in Mumbai issued a non-bailable warrant against Vijay Mallya for a Rs.180 crore loan default case linked to Indian Overseas Bank. The court cited Mallya’s fugitive status and issued an open-ended NBW to ensure his presence. The allegations include deliberate default on loan payments, causing significant financial loss to the bank. The case has drawn widespread attention and the Indian government is intensifying efforts to extradite Mallya from the UK.
Yesterday 6th April, A Mumbai court ruled that the proceeds from the sale of Nirav Modi’s London property must be transferred to the Indian Government. Nirav Modi, facing charges related to financial fraud in India, has been declared a fugitive economic offender. The decision aims to recover assets connected to high-profile economic crimes and repatriate illicitly acquired wealth.
