According to the ED complaint, Kingfisher Airlines allegedly “participated in criminal activities”, which led to the “generation and acquisition” of Rs 900 crore, and was “involved with the concealment, possession, acquisition and use of the proceeds of (the) crime”.
The judges have set December 4 as the start date for a final hearing in the case, and if the Chief Magistrate rules in favour of extradition at the end of the trial, the British Home Secretary must order Mallya’s extradition within two months since the day of the Judgment.
The CPS, arguing on behalf of the Indian government at the last hearing on July 6, had told the court that they had “excellent cooperation” with the Indian authorities in the case and had sufficient material to establish a prima facie case for the extradition of the UB Group chief.
The Prison authority also suggested that it would be more than happy to host a delegation from the Britain Crown Prosecution Service (CPS) if they wanted to pay a visit to the Arthur Road jail.
The CBI has two cases against him — one related to the IDBI Bank case and the other related to a loan default of over Rs 6,000 crore filed on the basis of a complaint from a State Bank of India-led consortium. He is facing extradition to India.
SAT has directed Mallya to appear in person or through his legal representative before the market watchdog within 21 days and submit his replies to the regulator. The tribunal has also asked the regulator to consider Mallya’s pleas to allow him “to continue as a Chairman of UBL (United Breweries Ltd)”.
Mallya has been asked by SAT to appear before Sebi “in person or through a legally authorised representative” to make any submission within 21 days.
The CBI (Central Bureau of Investigation) has two cases against him — one related to the IDBI Bank case and the other related to a loan default of over Rs 6,000 crore filed on the basis of a complaint from a State Bank of India led consortium.
Mallya’s extradition is also believed to have featured during bilateral talks between Prime Minister Narendra Modi and his British counterpart Theresa May on the sidelines of the G20 Summit in Germany last month.
ED complaint was submitted in a Mumbai court on June 14 for an alleged loan default of Rs 900 crore by Kingfisher. The complaint accused the airline and Mallya of having routed overseas Rs 417 crore of Rs 900 crore it secured as loan from IDBI Bank.
This bears significance as Mallya has challenged the Indian government’s move in the court to get him extradited from the UK saying the conditions in Indian jails are below standard. he home ministry has already written to the Maharashtra government to improve the conditions of its Arthur Road jail, where Mallya would be lodged if extradited from the UK.
“Mr Mallya’s case is sub-judice. The issues around extradition discussed during the meetings only focused on any difficulties that may arise in extradition cases in general,” said Union Home Secretary Rajiv Mehrishi.
Mallya, an accused in the Rs 900-crore loan default case, is now in the UK. His extradition plea is being heard in London’s Westminster Court. In his plea, he has raised the “poor conditions” of Indian prisons as one of the grounds to challenge his extradition.
The CBI had submitted before the court that Mallya had sought credit facility from IDBI Bank offering corporate guarantee of United Breweries (Holding) Limited and his own personal guarantee.
Vijay Mallya contempt case: The Supreme Court had on may 9 held beleaguered business tycoon Vijay Mallya guilty of contempt on the basis of a plea by a consortium of banks for his failure to provide details of all his assets, domestic as well as offshore. Vijay Mallya had failed to make a personal appearance before the court despite being told to do so.