Oct 16, 2012

Did GMR save Vijay Mallya from arrest warrant?

















On Friday, a Hyderabad court said it would issue non-bailable arrest warrant for Kingfisher Airline Ltd's Vijay Mallya for bounced cheques to GMR. 

GMR runs Hyderabad and Delhi airports. 

The twist reported here was that GMR needs to pay a few cents as a processing fee for the court to issue the warrant. 

The fee wasn't submitted on Friday till office hours. The weekend arrived.  

On Monday it was expected that GMR will pay the court fee. It did not with the potential now that the case of bounced cheques on Kingfisher may be scrapped by the courts. 

Clearly GMR does not want to make it  embarrassing for Mr. Mallya when he arrives in India. 


So then, was the drama necessary?   

3 comments:

  1. Give Mallya Reprieve !!
    How can you get the 2013 calender if the boss is arrested ?????

    ReplyDelete
  2. In Hindi we say, "laaton ke bhoot baaton se nahi mante". Some times you have to kick your way out and thats what GMR did.

    ReplyDelete
  3. My take: MoCA will claim that legal opinion allows them to shut KF down. KF will go to court claiming otherwise. A protracted legal battle will ensue and the banks will eventually write the entire debt off as unrecoverable.

    ReplyDelete