Mumbai: The UK Home of Secretary has approved fugitive liquor baron’s Mallya’s extradition, Vijay Mallya who is alleged for fraud and money laundering charges amounting to an estimated Rs 9,000 crore.
As per media reports, Mallya is expected to approach the London High Court against his extradition. In December 2018, the Westminster Magistrates’ Court had ruled in favour of extradition of Mallya.
Under extradition treaty procedures, the decision of the Chief Magistrate was sent to the Home Secretary as only he was authorized to order the extradition of Mallya.
A few days ago, a special court in Mumbai declared Mallya a Fugitive Economic Offender (FEO) on the petition of the Enforcement Directorate. Mallya became the first businessman to be declared an EFO under the provisions of the new fugitive Economic Offenses Act, which came into force in August last year.
The British court had said that it is satisfied with the various assurances provided by the Indian government, including a video of prison cell which was not only recently rescheduled, but rather than the minimum requirement limit.
He was also asked to pay money towards registration of worldwide freezing order and of Karnataka’s Debt Recovery Tribunal (DRT).
Vijay Mallya has to pay dues to 13 banks namely- SBI, BOB, Corporation Bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, J&K Bank, Punjab and Sind Bank, PNB, State Bank of Mysore, UCO Bank, UBI and JM Financial Asset Reconstruction Co. Pvt Ltd.
On 13 June 2016, the Prevention of Money Laundering Act (PMLA) court declared Mallya a “proclaimed offender” on a request by the Enforcement Directorate (ED) in connection with its money laundering probe against him in an alleged ₹9000 crore loan default case.
