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Wednesday, May 27, 2020

‘Disappointed’ with UK court’s extradition ruling, Vijay Mallya to pursue further legal remedies

"The Banks have already recovered in cash a sum of Rs 2500 crores which is 50 percent of the Principal amount. I have repeatedly offered to repay the Banks in full but, sadly to no avail," Vijay Mallya said in a tweet, hours after the ruling.

By: Express Web Desk | New Delhi | Updated: April 21, 2020 11:38:04 am
Vijay Mallya, Vijay Mallya ED, Vijay Mallya firms, Vijay Mallya companies, Vijay Mallya shell companies, Vijay Mallya case, Indian Express The CBI case against Mallya’s extradition pertained to alleged fraud of Rs 900 crore at IDBI bank.

Losing appeal against his extradition to India, liquor baron Vijay Mallya expressed disappointment with the UK court’s verdict and indicated that he will “pursue further legal remedies” as suggested by his lawyer.

“The Banks have already recovered in cash a sum of Rs 2,500 crores which is 50 percent of the Principal amount. I have repeatedly offered to repay the Banks in full but, sadly to no avail,” he said in a tweet, hours after the ruling.

The CBI case against Mallya’s extradition pertained to alleged fraud of Rs 900 crore at IDBI bank.

In the order against Mallya, the judges said, “We consider that while the scope of the prima facie case found by the SDJ [Senior District Judge] is in some respects wider than that alleged by the Respondent in India [Central Bureau of Investigation (CBI) and Enforcement Directorate (ED)], there is a prima facie case which, in seven important respects, coincides with the allegations in India”.

The ruling by the High Court gives 64-year-old Mallya, who is on bail, 14-days to approach the UK Supreme Court. If he does not use the appeal at the apex court he would be sent to India in accordance with provisions of India-UK Extradition Treaty. The case can also go to UK home secretary, Priti Patel, for a final decision on his extradition.

Mallya remains on bail on an extradition warrant executed by Scotland Yard in April 2017, involving a bail bond worth GBP 650,000 and other restrictions on his travel. In July last year, a two-judge panel at the Royal Courts of Justice in London granted him permission to appeal against the extradition order of a lower court.

Mallya flew out of India in March 2016 and has been living in the United Kingdom since then.

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