The infamous business tycoon, who was out on bail till today, will meet his fate after the final round of hearing that is starting today and can extend up to December 14.
The Westminster Magistrates Court in London will start the final hearing of India’s extradition request for Vijay Mallya against charges of fraud and money laundering filed by the CBI and the Enforcement Directorate.
The infamous business tycoon, who was out on bail till today, will meet his fate after this final round of hearing that can extend till December 14.
The judgement would decide if he can be legally forced back to India to face trial for defaulting on loans to the tune of a whopping Rs 9,000-crore taken from multiple banks. The absconding Mallya had not consented to extradition when he was asked about the same earlier in a court.
Here are seven key things that has happened in the high-profile case of Vijay Mallya:
1. India’s Ministry of External Affairs submitted an extradition request in February for Mallya whose Kingfisher Airlines owes over Rs 9,000 crore to a consortium of 17 banks in India. The Enforcement Directorate (ED) also filed charge sheet against Mallya under the Prevention of Money Laundering Act and requested for his extradition. The London court will hear their joint plea on extradition of Mallya.
2. The ED case alleges that Kingfisher Airlines diverted to shell companies abroad Rs 417-crore loan, which was meant for the airline, and was taken from IDBI Bank. The ED alleged that Mallya had laundered a total of Rs 1,300 crore through 13 shell companies.
3. The 61-year-old tycoon had fled to England in March last year to evade trial, following which India canceled his passport and started the extradition process. He was then arrested in London in April this year on an extradition warrant but he got a conditional bail in just a few hours by paying a bond of 650,000 pounds.
4. Mallya has repeatedly denied all the allegations against him. He has also said the allegations of money laundering against him were false and he has evidence to back up his claim.
5. During one of the hearings of Mallya’s case, the London court had raised concerns regarding alleged human rights violation in Indian prisons. The Indian government followed up with an assurance that the tycoon will not face any threat to his life in case he is extradited and lodged in Arthur Road jail of Mumbai. The government submitted details of the prison conditions to the court, as per a report in the Hindustan Times.
6. The India High Commission had stated that the evidences presented against Mallya in the UK court makes a strong case against the liquor baron. India has submitted a number of evidences to the court to prove Mallya’s loan default and that it was ‘intentional’. But UK puts India in category two countries regarding extradition, making the process more difficult and lengthy compared to the one availed by European countries and other first-world nations.
7. The 25-year old extradition treaty between India and UK has not yielded a good result wherein only one among several extradition requests made by India has been approved. It would be a rare achievement if the court rules in India’s favour and sends the tycoon back home. In that case, UK home secretary Amber Rudd would order Mallya's extradition within two months of the ruling, unless multiple court appeals hinder and prolong the process.With inputs from PTI.