U.K. High Court rejects Vijay Mallya’s plea for permission to move Supreme Court

Vijay Mallya. File

The UK High Court on Thursday rejected a plea of businessman Vijay Mallya for 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.

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“The High Court has dismissed Mr. Mallya's request to appeal in the Supreme Court. The UK government's Home Office may soon issue a directive allowing his extradition. We have to bring him back within 28 days after he exhausts all legal avenues,” said a senior Enforcement Directorate (ED) official.

Mr. Mallya may be brought on board a special plane, as international flight operations have been suspended due to the global lockdown.

Following a hearing in February, a division bench of the High Court of Justice, on April 20, turned down Mr. Mallya's appeal against the Senior District Judge's order on December 10, 2018, for his extradition.

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 CBI and the ED have alleged that between September 1, 2009, and January 24, 2017, Mr. Mallya conspired with A. Ragunathan, S. Borkar, A. Nadkami, A. Shah, Y. Agarwal, B. Batra, O. Bundellu, S. Srinivasan, R. Sridhar and others to commit cheating.

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Sanction of loans

The accused fraudulently got loans sanctioned from the bank to the now-defunct Kingfisher Airlines (KFA) in the order of (a) Rs.1,500 million on October 7, 2009, (b) Rs.2,000 million on November 4, 2009, and (c) Rs.7,500 million on November 27, 2009, with the intention not to repay them.

Mr. Mallya was allegedly involved in false representation to the bank on KFA’s financial condition and the value and/or availability of securities to be relied upon. The funds raised through loans were diverted and laundered.

The probe agencies have accused Mr. Mallya and others of wilful loan defaults to the tune of Rs.9,000 crore. He had flown out of India on March 2, 2016. After the CBI filed a charge sheet in the IDBI Bank case, the Indian government made an extradition request on February 9, 2017. Subsequently, the UK police arrested him. He was released on conditional on April 18, 2017.

Following the ED’s request for extradition in the money laundering case, Mr. Mallya was rearrested on October 3, 2017, and again bailed.

The ED attached assets worth Rs.13,000 crore in connection with the cases against him. On its request, a Mumbai court declared him a fugitive under the Fugitive Economic Offenders Act.

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Printable version | Apr 25, 2022 9:45:14 pm |