Vijay Mallya

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.

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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.

The banks' legal team argued that the assets of United Breweries Holdings Limited (UBHL), being relied on by Mallya as part of a second settlement offer, are “unquestionably under the control of its Official Liquidator” and therefore not available to Mallya or the erstwhile management of UBHL.

A bench Justices U U Lalit and Ashok Bhushan, which took up the review petition on June 16, directed the apex court registry to furnish all the details including names of the officials who had dealt with the file concerning the review petition for last three years.

In May, Mallya lost his appeals in the UK Supreme Court against his extradition to India to face money laundering and fraud charges.

The point being made in the case, as per a report, is that the extradition to India could endanger his health.

Since Mallya's real estate assets, which include a Mumbai office property, his cars and other personal belongings won't fetch much, banks are pinning their hopes on acquiring Mallya's stake holding in United Spirits and United Breweries.

No estimate was given of how long resolution of the legal issue will take

On May 14, he lost his final appeal against extradition to India in the United Kingdom's Supreme Court.

"The government of India is in touch with the UK regarding the next steps in his extradition process," External Affairs Ministry Spokesperson Anurag Srivastava said on Thursday.

He can be extradited in 28 days.

While congratulating the Indian government over the Rs 20 lakh crore economic package, Mallya lamented that his repeated offers to repay his dues have been ignored.

The 64-year-old businessman had 14 days to file this application to seek permission to move the higher court on the High Court judgment from April 20, which dismissed his appeal against a Westminster Magistrates' Court extradition order certified by the UK Home Secretary.

His remarks came after Finance Minister Nirmala Sitharaman said that wilful defaulters were beneficiaries of 'phone banking' under the UPA regime and the Modi government is chasing them to recover the dues.