Vijay Mallya

During a remote hearing of the Chancery Division, Justice Robert Miles handed down his judgment in favour of a consortium of Indian banks led by the State Bank of India (SBI).

Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Vijay Mallya’s lawyers.

The statement was issued by Sitharaman in the Rajya Sabha while replying to a debate on the insurance amendment bill.

Asked about what kind of issue was holding up Mallya's extradition, the British envoy said, 'There is a process going on. I think it is a legal process and has to be followed through, can't short cut that. That is why you have legal processes.'

The UK Home Office has so far only confirmed on background that a confidential legal process remains ongoing before the extradition order can be executed.

It is south superstar Vijay's Master that made a century in five days of its release.

Citing UK laws, the government clarified that unless the legal issue is satisfied, extradition order to bring the liquor baron back to India will not come into effect.

Acting on a petition by Pune-based RTI activist Vihar Durve, who was denied information by the CBI, the panel directed the central agency to cite him regulations under which look out circulars (LOCs) were issued in October and November, 2015.

Mallya's counsel, Philip Marshall, had argued that his client needed urgent access to the substantial funds held by the court to cover his living and legal expenses, as had already been set out by a validation order of the High Court from last year.

Investigations revealed that a large amount was remitted abroad from the bank account of Kingfisher Airlines Ltd, the ED said.

The State Bank of India-led consortium of banks also informed the Supreme Court that Rs 11,000 crore were still needed to be recovered from fugitive businessman Vijay Mallya.

"Even now I don't see him as a 'hero' or a 'villain'. I see him as a complex individual," says Dylan Mohan Gray, the director of the infamous 'King of Good Times' episode, in an interview.

The Ministry of External Affairs on October 5 submitted before the Supreme Court that the extradition of fugitive businessman Vijay Mallya was ordered by the highest court of the United Kingdom but it has not come into effect yet.

Advocate Rajat Nair, appearing for the Centre, told the court that the extradition request has been made as per the direction of the court.

Three episodes of Bad Boy Billionaires: India based on Vijay Mallya, Nirav Modi and Subrata Roy are available for streaming.

The details were provided in response to an unstarred question by Congress leader Dean Kuriakose in Parliament on September 14

Mallya, an accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, is in the United Kingdom

The company moved the Supreme Court against the Karnataka High Court's March 6 order that upheld its February 2017 order directing the winding up of UBHL for recovery of dues payable by Kingfisher Airlines Limited.

Banks have little hope of getting their money back from these businessmen who, after borrowing thousands of crores from these banks and defrauding them, fled the country

The apex court had in June directed its registry to explain as to why Mallya's review petition had not been listed before the concerned court for the last three years.