The Royal Courts of Justice in London on April 20 dismissed fugitive liquor baron Vijay Mallya’s plea against his extradition to India to face fraud and money laundering charges. The court rejected Mallya’s appeal against the 2018 extradition order.
The dismissal effectively clears the way for Mallya's extradition to India to face the charges in the Indian courts. The businessman now has only one option remaining -- filing an appeal to the UK Supreme Court. But for filing a case in the Supreme Court, he needs clearance from the High Court, where he lost the case now. He has 14 days to apply for permission to appeal to the UK Supreme Court.
"Options before Mallya are limited. Though he can move the Supreme Court, the top court usually does not entertain extradition cases; it only looks into constitutional matters," a source told Moneycontrol.
"If the Supreme Court doesn't accept his plea or rejects it, then within 14 days, UK Home Secretary Priti Patel has to sign the extradition papers," another source added.
The 64-year-old tycoon, whose business interests ranged from aviation to liquor, is wanted in India over Rs 9,000 crore in loans his Kingfisher Airlines took out from banks. The case followed the collapse of the now-defunct KFA. Mallya denies the charges against him and is currently on bail. His financial dealings are being investigated by Enforcement Directorate, the Central Bureau of Investigation and the Serious Fraud Investigation Office.
"It is a significant achievement in the continuing war against economic fugitives who have been managing to stay away from the judicial process in the country. It also validates the painstaking and meticulous investigation done by the CBI," said an agency source.
Mallya has repeatedly denied wrongdoing and has said that he intends to repay the loans. "I have made repeated offers to pay 100 percent of the amount borrowed by KFA to the Banks. Neither are Banks willing to take money and neither is the ED willing to release their attachments which they did at the behest of the Banks. I wish the FM would listen in this time of crisis," he had tweeted on March 31.
In April 2017, Mallya was arrested in London on India's request for extradition and was granted bail shortly after. He was again arrested in London in October that same year, following an ED affidavit.
It was in December 2018 that a UK court ordered the extradition of Mallya. This was followed by a special PMLA court in India declaring him a fugitive economic offender.
"Since the FIR against Mallya was filed by the CBI and ED in Mumbai, he would be brought to the city once the extradition papers are signed,” a source told Moneycontrol.
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