- 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 Westminster Magistrates’ Court, which is hearing the case, has however granted him bail till 4 December.
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".
I deny all allegations that have been made and I will continue to deny them.Vijay Mallya before court hearing
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.
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.
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:
I was not called a thief that day by the crowd at Oval ground. Two drunk people were shouting but several others came and wished me well.
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:
I deny all allegations. I have not eluded the court. I have enough evidence to prove I am not guilty.
Mallya’s son Siddharth Mallya will also be attending the court hearing.
Read more stories on Vijay Mallya’s loan default on The Quint.