Vijay Mallya's homecoming judgement might come next week
- The UK Court will rule out its decision next week for Mallya’s extradition to India.
- In 2019, Mallya offered to pay back all the money and salaries that he owes.
- Indian authorities want Mallya back in India for $1.4 billion money laundering charges.
The businessman has been declared a financial fugitive by the Indian government after he fled the country as loans mounted in 2016. He is now being tried for fraud and money laundering charges worth ₹9,000 crore($1.4bn).
The former founder of the defunct airline Kingfisher was on bail since his arrest on an extradition warrant in April 2017. He however had to pay up a bail bond worth 650,000 pounds with travel. He had sought permission from London? High Court to appeal against the extradition order. He has multiple cases against him, his assets in India has been sealed but bringing him to India has been taking longer. As per UK laws, to extradite a criminal, the offence he has committed should also be an offence in Britain. Fortunately, financial fraud is an offence in the country.
Mallya’s counsel Clare Montgomery challenged Emma Arbuthnot of Westminster Magistrate Court’s decision on extradition order passed in December 2018, claiming it had “multiple errors” and was “plain wrong” to accept Indian government claims of fraudulent intentions.
In July 2019 Mallya told the media outside in the court that he is “vindicated” by the ruling. He later offered the PNB bank that he owes money to, and the Indian authorities to pay back all the money.
He tweeted in July 2019 “I once again repeat my offer to pay back the Banks that lent money to
Despite the good Court result for me today, I once again repeat my offer to pay back the Banks that lent money to K… https://t.co/AZW9uJ28yt— Vijay Mallya (@TheVijayMallya) 1562086081000
Mallya’s whose interests have ranged from aviation to liquor had a net worth of $750M in 2013, according to Forbes.
The decision of the High Court this week will mark one of the final stages of the appeals process against Mallya’s extradition to India. He can still challenge the decision in the European Courts. As in the case of match-fixing scandal Sanjeev Chawla –he challenged the decision in European Courts of Human Rights based in Strasbourg, France. However, his plea was dismissed, and his extradition to India is expected after the paperwork is done.