File Picture
In big win for India and the CBI and the ED, a London court has has ordered the extradition of Vijay Mallya wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores.
The decision will now go to the UK Home Office for the Home Secretary, Sajid Javid, to pass an order based on that verdict. Both sides will have the right to file for a permission to appeal in the Chief Magistrate’s ruling in the UK High Court. Mallya gets 14 days to appeal against the extradition.
Mallya, according to media reports sought to disprove the narrative that he has “stolen” money and said his offer to repay the principal amount to the Indian banks was “not bogus”.
The 62-year-old former Kingfisher Airlines boss has been on bail since his arrest on an extradition warrant in April last year.
He 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.
“I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud,” he said in his recent tweet.
With respect where have I defrauded Banks ? I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud. https://t.co/CygZODV5Xv
— Vijay Mallya (@TheVijayMallya) December 6, 2018
The trial, which opened at the Magistrates’ Court on December 4 last year, has gone through a series of hearings beyond the initial seven days earmarked for it.
Mallya in a tweet also hit at the media for putting up wrong facts
Surprised that a respected senior anchor @bhupendrachaube would get facts wrong.He should know the extradition process and appeal rights available to both sides. My repayment offer is to clear my name of allegations that I stole money when,in fact I invested 4000 crores into KFA https://t.co/A9XY1T7LU3
— Vijay Mallya (@TheVijayMallya) December 6, 2018
