Negotiable Instruments: Exhaustive Coverage by Adv Roma Bhagat. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

After Vijay Mallya had lost his appeal in an UK court in April against an extradition order to India on charges of fraud and money laundering the former liquor baron went on to file a plea in the High Court of United Kingdom.

In a matter of joy for the whole of India the UK High Court on May 14th has rejected a plea of businessman Vijay Mallya who sought permission to move the Supreme Court against the dismissal of his appeal challenging the lower court’s approval of his extradition to India in the IDBI Bank fraud case. The High Court concluded that a prima facie case was made out against the businessman for fraud, misrepresentation to the bank in securing credit facilities, conspiracy and money laundering, as adjudged by the lower court.

The  move  marks  a  win  for  CBI  and  ED, who  had  been  seeking  his  extradition  since  2018. Mallya is accused of defrauding Indian banks to the tune of over Rs 11,000 crore. A Mumbai court declared him a fugitive under the Fugitive Economic Offenders Act.

Mallya in a tweet, just hours before the rejection of his application by the London high court had said that he is ready to pay the money he owes to Indian banks.

UK home secretary now has to take a call on Vijay Mallya's extradition to India. With Mallya's plea being rejected, he has no legal options left in the United Kingdom and will likely be extradited to India within 28 days.

"Loved reading this piece by Archit Uniyal?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Tags :

  Views  164  Report