Vijay Mallya, accused of defaulting on multiple loan repayments and money laundering, left India in March 2016. The former Rajya Sabha MP was declared a Fugitive Economic Offender in January 2019 by a special court for cases under the Prevention of Money Laundering Act.
Chief Insolvency and Company Court judge Briggs, in his verdict delivered Thursday, said there is no obvious advantage to the banks to pursue this class action at this point in time.
The Central Bureau of Investigation had refused to share the information under the RTI Act about legal and other expenses incurred on Mallya's extradition from the United Kingdom where he had escaped in 2016 after the agency diluted a look out circular against him in 2015.
In a reprieve to embattled liquor tycoon Vijay Mallya, the UK High Court on Tuesday allowed him to appeal against his extradition order signed off by the UK home secretary Sajid Javid to face alleged fraud and money laundering charges amounting to Rs 9,000 crores in India.
Mallya, who is facing charges of defaulting on bank loans to the tune of Rs 9,000 crore, fraud and money-laundering, had moved the High Court after the Westminster Magistrates Court, on December 10, 2018, gave the go-ahead for his extradition.
Embattled liquor tycoon Vijay Mallya claimed on Sunday that Prime Minister Narendra Modi's statement in a recent interview confirming the recovery of Rs 14,000 crores worth of his assets has fully vindicated him in his assertion of being a "poster boy" for the BJP-led government.
Mallya (62) had sought permission to appeal against the High Court order dated May 8. He is separately undergoing an extradition trial in a UK court over fraud and money laundering charges by Indian authorities.
A British court had allowed the Indian banks to search and seize the properties owned by Vijay Mallya. The Indian banks are working in sync with the UK authorities on this.
Mallya is contesting these charges in London as part of India's efforts to extradite him from there and face the legal system here in connection with these charges
The issue of the final signing of the memorandum of understanding on illegal immigrants was raised by UK Minister of State for Countering Extremism Baroness Williams during her talks with Union Minister of State for Home Kiren Rijiju here yesterday.
Bangalore: Days after resignation of Vijay Mallaya from UB group firm Mangalore Chemicals and Fertilizers Ltd (MCFL), the fertiliser company today announced appointment of his step-mother Ritu Mallya as a director of the firm with
New Delhi, Dec 17: Liquor baron Vijay Mallya, most famous for his flamboyance, is admired by his friends and business leaders for living life-king size. His unique style of doing things in the most opulent
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