In a dramatic development, a UK court on Monday ordered the extradition of liquor baron Vijay Mallya. The billionaire businessman has 14 days to appeal the verdict in a higher court.
The CBI, which had sent its high-ranking officials to London ahead of the expected verdict, welcomed the order. “We hope to bring him soon and conclude the case. CBI has its own inherent strengths. We worked hard on this case. We are strong on Law and facts and we were confident while pursuing extradition process,” news agency quoted a CBI officer as saying.
Ahead of Monday’s hearing, Vijay Mallya had told reporters, “Whatever the judgement, my legal team will reveal the judgement and take proper steps thereafter.”
Mallya is accused of defrauding banks to the tune of Rs 9,000 crores. However, on 7 December, he had taken to Twitter to clarify that the money borrowed by his company Kingfisher Airlines.
“With respect where have I defrauded Banks ? I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud,” he had written.
In the recent past, Mallya had also offered to pay the money owed by him to Indian banks. He had said, “I have placed 14K crores worth of assets in front of Court as the ED and Banks (both under Government control) are fighting over the same assets. What do I do without Court intervention?”
More to follow