BUSINESS
The 62-year-old former Kingfisher Airlines boss, who has been on bail on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.
The UK court would decide today over the extradition of fugitive Vijay Mallya. The 62-year-old former Kingfisher Airlines boss, who has been on bail on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores. Mallya has been living in Britain since March 2016. The extradition case has entered final stages with Westminster Magistrates' Court in London likely to pronounce a verdict in December this year.
The extradition trial, which opened at the London court on December 4 last year, with the Crown Prosecution Service (CPS) team, led by Mark Summers, aiming at laying out a prima facie case of fraud against the embattled liquor tycoon, who has been based in the UK since he left India in March 2016.
It also seeks to prove there are no "bars to extradition" and that the tycoon is assured a fair trial in India over his now-defunct Kingfisher Airlines' alleged default of over Rs 9,000 crores in loans from a consortium of Indian banks.
Below we have listed 5-point guide to know about the case:
1. In case the London court orders extradition of Vijay Mallya then the liquor baron would have an option to appeal to the higher court. If the verdict goes against extradition, thenthe CBI and the Enforcement Directorate would have to file a fresh appeal within 14 days.
2. Recently, Vijay Mallya via Twitter, offered to repay 100 per cent of the amounts to bank. In a series of tweets, Mallya said, "I have offered to repay 100 per cent of the principal amount to them. Please take it".
3. During the trial, the CPS argued that Mallya never intended to repay the loans he sought in the first place because his airline's demise was inevitable, the defence tried to establish that Kingfisher Airlines was suffering from consequences of a wider global financial crisis around 2009-2010 and that its failure was a result of factors beyond the company's control.
4. The extradition process from the UK involves a number of steps including a decision by the judge on whether or not to issue a warrant of arrest.
5. Only one person has ever been extradited from the UK to India under the extradition treaty between the two countries signed in 1993. Samirbhai Vinubhai Patel, wanted in a case related to the 2002 Gujarat riots, was extradited in October 2016.
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