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Vijay Mallya likely to be extradited to India within 28 days as London high court rejects his plea

Speed News Desk | Updated on: 14 May 2020, 19:10 IST

The London high court on Thursday turned down fugitive businessman Vijay Mallya’s appeal seeking to challenge his extradition to India before the UK Supreme Court.

According to sources, with Vijay Mallya’s plea being dismissed, he has not legal recourse left in the United Kingdom and will in all probability be extradited to India in 28 days. Sources also added that the UK home secretary has to take a call on signing the extradition order in 28 days. After this, concerned officials in the UK will work together to extradite Mallya to India.

Previously, the London high court, had dismissed Mallya’s plea against extradition, causing him to ask permission from the court to move the supreme court against the decree. On 20th April, the London high court noticed that Mallya had swindled the Indian bank and should be deported to India. The liquor baron is accused of defrauding Indian banks to over Rs 11,000 crore.

The Indian investigating agency CBI and the ED have been pushing for Mallya’s extradition case since 2016 through a legal battle in the UK court. Mallya is accused of defaruding Indian banks of more than Rs 9,000 crore. He absconded from India in 2016.

Mallya is out in bail since 17th April and on a bond of 650,000 pounds. CBI and ED are hopeful that he will be extradited to India from London in the next 28 days.

Both the investigating agencies have lodged an FIR against Mallya in Mumbai. He will be brought to the city once the UK home secretary signs the extradition papers.

Mallya ran away to London in March 2016 and a request for his extradition was forwarded to the UK authorities by CBI on February 9, 2017 through diplomatic means.

The extradition of the liquor baron was asked to face trial on the claims of " misrepresentations made to the IDBI bank to induce the said bank to sanction and disburse loans of Rs. 150 Crore on 07.10.2009, Rs. 200 Crore on 04.11.2009 and Rs. 750 Crore on 03.12.2009. These included dishonest and deliberate misrepresentations and concealment of brand value of Kingfisher Airlines Ltd., inflation of the security value, false promises of equity infusion and future rosy projections, among others," according to the CBI.

The agency has also alleged that Vijay Mallya dishonestly utilised loans sanctioned by IDBI bank and diverted it in violation of terms of sanction.

Vijay Mallya in a tweet, just before the rejection of his plea by the London high court had stated that he is ready to pay the money he owes to Indian banks.

Also Read: 'Please take my money unconditionally and close': Vijay Mallya urges govt to accept his offer

First published: 14 May 2020, 19:08 IST