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Bank seeks arrest warrant for Vijay Mallya

The State Bank of India (SBI) is seeking an arrest warrant against Vijay Mallya and for his passport to be seized just days after he stepped down from United Spirits.

Vijay Mallya United Spirits Kingfisher
VIjay Mallya stepped down from his role as chairman and non-executive director of USL last week

In an application to the Bangalore debt recovery tribunal, SBI has also demanded all of Mallya’s assets be declared, reported Live Mint.

Mallya agreed to resign from his position as chairman and non-executive director of United Spirits after parent company Diageo agreed to pay the tycoon US$75 million.

In a statement released after his departure, he noted a desire to spend more time in England, in order to be closer to his children.

SBI was part of a group of lenders that funded Mallya’s grounded Kingfisher Airlines and is battling for access to the businessman’s severance payment from Diageo.

Mallya and Kingfisher Airlines allegedly owe a consortium of 17 lenders more than £1bn, which include Punjab National Bank, Bank of Baroda, Canara Bank, Bank of India, Central Bank of India, Federal Bank Ltd, Uco Bank and Dena Bank.

Back in September 2014, Mallya was declared a “willful defaulter” by the United Bank of India.

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