Arrest warrant out for Vijay Mallya

UPDATE #2 Indian aviation regulator DGCA has suspended the license of Vijay Mallya’s carrier, Kingfisher Airlines. The license has been suspended because the management has failed to present a credible revival plan and will remain in place until the carrier can present a convincing financial plan for its future. The airline is currently $1.4 billion in debt and has never turned a profit since it commenced operations in 2005.

10/18/12 The recent arrest warrant which was issued against Force India team boss Vijay Mallya has been withdrawn, meaning he is no longer under threat of being detained.

The charges of 2 million dollars (1.2 million pounds) against Kingfisher Airlines, put forward by Hyderabad airport, have now been settled. A court case was in the process of being organized, but lawyers have confirmed that it has been cancelled.

10/12/12 Force India boss Vijay Mallya has run into more trouble in Hyderabad where the 13th Metropolitan Sessions Court has issued an arrest warrant against him in a case filed by GMR Hyderabad International Airport Ltd which manages the Rajiv Gandhi International Airport.

The case dates back several months when checks issued by Kingfisher bounced. The court issued the warrant after Mallya failed to appear despite a summons.