ED Files Charge Sheet Against Vijay Mallya in Mumbai
Mallya, who is accused of fraud, is out on bail after being arrested in April by the Scotland Yard.
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- Vijay Mallya was arrested in April on allegations of fraud after India made a formal extradition request for him.
- The absconding businessman owes almost Rs 9,000 crore to Indian banks.
- The extradition hearing of the liquor baron was heard on 13 June in a London court.
- The Westminster Magistrates’ Court granted bail to Mallya till 4 December.
- The next hearing of the extradition case against him has been moved to 6 July.
ED Files Charge Sheet
The Enforcement Directorate filed fresh charge sheet against Vijay Mallya in a Mumbai court on Monday, sources told ANI.
Mallya who is currently taking refuge in United Kingdom, India is persuading his extradition, the court hearing for which is scheduled on 6 July.
The 61-year-old liquor baron had claimed he has "enough evidence" to plead his case in the Rs 9,000 crore loan default case and taunted India saying, "you can keep dreaming about a billion pounds".
Mallya was arrested in April on allegations of fraud after India made a formal extradition request for him. He was later released on conditional bail.
Next Hearing on 6 July
The Westminster Magistrates’ Court has granted bail to Vijay Mallya till 4 December. The next hearing of the extradition case against him has been moved to 6 July.
When a reporter asked how he felt when he was booed and called a thief during a match between India and South Africa on Sunday, Mallya said:
When a reporter asked about Mallya’s “billion pounds”, he mockingly told him: “You can keep dreaming about a million pounds... you don’t know the facts.” He then artfully dodged questions about his mansions spread across the world, while simultaneously denying all charges against him.
Mallya was especially critical of Indian media, and took to his Twitter account to ask them to wait for a verdict. He also tweeted that the online hate campaign against him knew no bounds.
Mallya Arrives in London Court
Vijay Mallya reaches Metropolitan Magistrates’ Court in London. Upon reaching he told reporters:
Mallya’s son Siddharth Mallya will also be attending the court hearing.
Read more stories on Vijay Mallya’s loan default on The Quint.
Extradition Not as Easy as it Seems: VK Singh
Talking about Mallya’s extradition hearing, MoS MEA VK Singh on Tuesday said that the process is not as easy as it seems.
Meanwhile, Aaron Watkins, the counsel representing India has asked for more time to provide more evidence for extradition. The Chief Magistrate of the Westminster Court has questioned why India has not provided the bar with any final evidence, pointing fingers to the investigation carried out by the CBI.
According to a report in The Times of India, chief magistrate Emma Arbuthnot said: “Are Indians normally very prompt in their responses? They have taken six months so far and we haven't got any further forward in the past 6 weeks."
Vijay Mallya's Extradition Case to be Heard Today
The extradition hearing of fugitive liquor baron will be heard today in a London court. Vijay Mallya, who is out on bail after his arrest in April by Scotland Yard, fled India last year and has been living in Britain since.
If the hearing goes as per schedule, Britain's Crown Prosecution Service (CPS) will be arguing on behalf of India at the Westminster Magistrates' Court, The Times of India reported.
Mallya, 61, owes almost Rs 9,000 crore to Indian banks. A consortium of banks led by SBI, claimed that the ‘King of Good Times’ had allegedly transferred $40 million, which he had received from British firm Diageo, to his children in “flagrant violation” of various judicial orders.
Mallya was arrested in April on allegations of fraud after India made a formal extradition request for him. He was then released on conditional bail.
The extradition hearing was originally scheduled for 17 May, but was postponed to 13 June.
Rupees 400 Crore of IDBI Loan Routed Abroad
An ongoing investigation led by the CBI and Enforcement Directorate into Kingfisher Airlines has revealed that out of the rupees 900 crore of his IDBI bank loan, Vijay Mallya allegedly routed rupees 400 crore overseas. These were passed off as payments for aircraft-renting and other ‘operational’ expenses.
According to The Indian Express, the investigation has revealed that Mallya colluded with IDBI Bank officials to secure loans without giving any valuable collateral. The bank too passed off the loan despite Kingfisher’s weak credentials. There were also discrepancies in the valuation.
Timeline of the Mallya Case
- In 2016, a consortium of 17 banks moved the Debt Recovery Tribunal to hear a July 2013 petition to recover dues of Rs 9,081 crore, including interest, that was loaned to Mallya’s now defunct Kingfisher Airlines.
- Mallya left India on 2 March 2016 for London.
- He offered to negotiate with the banks for a one-time settlement of dues and sought the Supreme Court’s intervention.
- Banks had previously shot down Mallya’s offer of Rs 6,868 crore in April 2016 to settle the dues.
- A formal extradition request by the MEA in respect to Mallya was handed over to the British High Commission vide our note verbale dated 8 February 2017.
- The UK Home Office, London, vide their note verbale dated 21 February 2017 conveyed that the request has been certified by the Secretary of State and sent to Westminster Magistrates’ Court.
- Delhi Court issued a non-bailable warrant against the liquor baron on 12 April 2017.
- Setting in motion the process of extradition, the British government certified India’s request and sent it to a district judge for further action in March 2017.
- Mallya was arrested and given bail in London in April 2017.
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