Vijay Mallya lost his appeal against extradition to India in the UK High Court. He has been accused of money laundering and running away without paying loans to Indian banks.
Crux of the Matter
UK High Court Verdict Mallya was fighting a legal battle against Enforcement Directorate (ED) and Criminal Investigation Bureau (CBI) since 2016 in the UK court. The UK High Court considered him a culprit in its verdict.
Vijay Mallya between September 1, 2009, and January 24, 2017, dishonestly made representations to the Bank which were, and which you knew were or might be, untrue or misleading, namely: a) Supplying false information to the Bank in respect of Kingfisher’s profitability; b) Supplying false information to the Bank in respect of the value and/or availability of securities to be relied upon by the Bank. UK High Court
Mallya expressed disappointment with the verdict and said he will use every legal remedy to fight against his extradition to India. As suggested by his lawyers, Mallya may file a plea before the Supreme Court of the UK. In case if the supreme court rejects Vijay Mallya’s plea then the extradition process will be carried out.
Why Did He Fly to the UK? Mallya fled to the UK from India in 2016 to save himself from investigations into finacial irregularities in his companies. Enforcement Directorate (ED) filed cases against him for money laundering and nonpayment of loans taken for Kingfisher Airlines. He took money from Indian banks in the following order but failed to repay it. (a) INR 1500 million on October 7, 2009 (b) INR 2000 Million on November 4, 2009 (c) INR 7500 million on November 27, 2009 Earlier, Mallya offered to pay 100% principle amount to public banks but refused to come back to India. The UK was his destination because it has signed the European Convention on Human Rights that says that “if the UK courts think that a person to be extradited might face torture or death penalty, or that extradition is due to political reasons, it is allowed to deny the extradition request from a nation”. Nearly 5,500 Indians including the likes of Nirav Modi and some non-criminals have taken political asylum in the UK since 2013.
Curiopedia
Vijay Mallya is also called “The King of Good Times” and his biography by Harish Maiya is also titled the same.
His company United Breweries is the largest beer manufacturing company in India. Its Kingfisher beer has a market share of ~36% in India.
He has been a Member of Parliament in Rajya Sabha from 2002 to 2016. In 2016, the Rajya Sabha Ethics panel asked for his expulsion. He fled to the UK in the same year.
In February this year, Delhi police caught Sanjeev Chawla, the man behind the biggest match-fixing scandal of International Cricket. It took 2 decades for authorities to get their hands on him. He also fled to the UK.
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