Vijay Mallya will be extradited to India, rules United Kingdom judge
- Author: Rogelio Becker Dec 11, 2018,
Dec 11, 2018, 8:33
There is, however, likely to be an indefinite delay in the final resolution regarding Mallya's deportation or otherwise to India, despite the United Kingdom court ordering his extradition 20 months since he was first produced there following India's application and a hearing of a trial spread over 53 weeks.
Mallya has contested his extradition on the grounds that the case against him is "politically motivated" and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat.
The Indian government said Kingfisher took out a series of loans from Indian banks, in particular the state-owned IDBI, with the aim of palming off huge losses which Mallya knew the failing airline was going to sustain.
Mallya, 62, strongly rejects any...
The decision would then go to the UK Home Office for the Home Secretary, Sajid Javid, to pass an order based on that verdict.
He had recently tweeted indicating his willingness to repay the entire principle amount that he owed financial institution.
A court had blocked the $75m payment in March 2016 after creditors demanded it be used to settle Mr Mallya's outstanding debts, but $40m had already been transferred.
The liquor baron has been on bail since an extradition warrant was passed against him in April previous year.
India's Enforcement Directorate and Central Bureau of Investigation have filed separate cases of loan default against Mallya. But both the appeals - against the lower court decision and against the secretary of state - will heard at the same time by the High Court after it grants permission. She said bankers had been charmed by a "glamorous, flashy, famous, bejewelled, bodyguarded, ostensibly billionaire playboy" into losing their common sense. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel.
He had tweeted, "Wherever I am physically, my appeal is "please take the money". Being held as guarantor is not fraud", said the fugitive tycoon, who is on bail since April 2018. "If the court accepts my settlement offer, pay the employees first".