Vijay Mallya was once a renowned businessman who was accused of a massive fraud amounting to 9,900 crores. He borrowed from numerous banks and misused the funds. The Hyderabad High Court filed a case against him for failing to repay a cheque issued to GMR Hyderabad International Airport Ltd. Mallya was unable to appear in court, leading to a failed extradition plea in the London High Court and UK Supreme Court. As a consequence, the Debt Recovery Tribunal seized his shares under the Prevention of Money Laundering Act in order to retrieve the debt. Though Mallya managed to flee the country, his business, Kingfisher, suffered greatly due to his scam. To know more about Mallya’s scam and other Indian scams, listen to the full audio and all the episodes of the Indian scams hindi podcast show by Audio Pitara.

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Credits - Audio Pitara Team

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