From escaping India to getting ‘bailed out’ in London: A timeline of Vijay Mallya’s case
Embattled Indian tycoon Vijay Mallya, who has been declared a proclaimed offender, was today arrested in London by Scotland Yard on India’s request for his extradition on fraud charges. However, three hours after his arrest, various TV channels stated that he had been granted bail three hours after his arrest.
Here’s a timeline of the entire series of events.
November 4, 2009
Kingfisher Airlines (KFA) reports a second quarter net loss of Rs 418.77 crore, lays off nearly 100 pilots.
November 25, 2010
KFA Board approves debt recast package. It’s debt stands at over Rs 6,000 crore.
September 28, 2012
Turning down a request for Rs 200-crore working capital loan, the SBI-led lenders consortium asks SBI Capitals to chalk out a fresh revival plan.
October 2, 2012
The carrier declares partial lockout, following a strike by a section of its employees.
October 12, 2012
Non-bailable arrest warrant issued against Mallya & four other directors for non-appearance in cases relating to bouncing of cheques.
October 20, 2012
The airline’s permit is suspended and experts say United Breweries group needs to pump in over Rs 3,000 cr to get KFA airborne again.
November 10, 2012
Mallya loses Royal Challenge when Diageo announces its decision to acquire 53.4% stake in United …read more
