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Vijay Mallya who on 2 March 2016, became a fugitive and fled from Indian authorities, will be hearing judgement on his extradition case in a UK court today. A team of Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) have also left the country to be present in the UK for the hearing.
Mallya who has contested against his extradition on grounds of “human rights conditions” in Indian jails in the past has challenged his extradition on the grounds that the case against him is “politically motivated” and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat.
The case first came to light when CBI filed a case against Mallya in August 2016, after receiving a complaint from the State Bank of India (SBI). Then in June 2017, the ED filed a charge sheet under the Prevention of Money Laundering Act (PMLA) against Mallya who had now fled to the UK after a consortium of 13 banks, led by the State Bank of India were closing on him for owing Rs. 9000 Crores to the banks.
Vijay Mallya prior to hearing the verdict of the court, has tweeted, “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.”
