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UK court rejects fugitive Vijay Mallya's plea against extradition

Speed News Desk | Updated on: 8 April 2019, 16:23 IST
Vijay Mallya

In a major setback for business tycoon and Economic fugitive Vijay Mallya, the UK High Court has rejected his plea against the extradition process, who is currently facing charges of money laundering and siphoning off around Rs 9,000 crore from Indian banks.

Vijay Mallya, who is accused of fraud and violation of Foreign Exchange Management Act (FEMA), had earlier appealed in the court of law against the decision of UK Home Secretary Sajid Javid in order to extradite former Kingfisher Airline's owner.

Last year on December 9, it was the Westminster Magistrate’s Court which had held that Vijay Mallya’s trial for extradition should be carried forward and asked the CBI, ED to put its case forward.

The 62-year-old has been on a run after Indian courts and government declared him an economic fugitive and arrest warrant has been issued against him. He was the owner of the bankrupt Kingfisher Airlines and is currently on the wanted list of a consortium of banks for being a wilful defaulter over an unpaid dues of more than Rs 9,000 crore.

Mallya is left with one last option and that is, to approach the Supreme Court, which can attract a time period of at last two months.

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First published: 8 April 2019, 15:58 IST