A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya’s now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman’s assets in India.
India has been pressing the United Kingdom to extradite Mallya and Modi to face trial in India for their alleged involvement in cases relating to financial fraud.
Finance Minister Nirmala Sitharaman on Thursday said that fugitive businessmen Vijaya Mallya, Nirav Modi and Mehul Choksi are "coming back" to India" to face the law. The government is persuing extradition of Mallya and Modi from the UK while Choksi is believed to be in Antigua.
The 65-year-old businessman, whose legal challenge to the Indian government's extradition request was turned down at the Supreme Court level in the UK last year, remains in Britain on bail until Patel signs off on the order for him to be extradited to India to face charges of fraud and money laundering related to the now-defunct Kingfisher Airlines.
Mallya, an accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, is in the UK since March 2016. He is on bail on an extradition warrant executed three years ago by Scotland Yard on April 18, 2017.
A judge at the Insolvency and Companies Court at the High Court in London refused to release the funds, saying that Mallya had failed to provide the necessary information to permit the release of the funds.
The Enforcement Directorate in a big crackdown on fugitive Vijay Mallya, has seizes businessman's asset in France worth 1.6 million euros.
The Ministry of Home Affairs (MHA) has told the Supreme Court that the UK Home Office has intimated that there is a further legal issue which needs to be resolved before Vijay Mallya's extradition takes place and this issue is "outside and apart from" the extradition process.
The Supreme Court Monday directed fugitive businessman Vijay Mallya to appear before it on October 5 while dismissing his plea seeking review of the 2017 verdict which held him guilty of contempt for transferring USD 40 million to his children in violations of court orders.
Supreme Court on Monday dismissed the plea filed by fugitive businessman Vijay Mallya, seeking a review of its May 2017 order.
The Supreme Court will pronounce its verdict on fugitive businessman Vijay Mallya on Monday. Mallya had filed a plea seeking a review of May 2017 order in which he was held guilty for contempt for transferring USD 40 million to his children in violation of the Court's order.
In a new twist in the Vijay Mallya case, a certain document connected with the case in the Supreme Court has gone missing from the apex court files. A bench comprising Justices U.U. Lalit and Ashok Bhushan adjourned the hearing to August 20.
Vijay Mallya has offered a comprehensive settlement package of Rs 13,960 crore to the consortium of banks in India as the fugitive liquor baron seems to have exhausted all his judicial options against his extradition to India.
India has asked the United Kingdom to not extend the asylum of fugitive businessman Vijay Mallya any further
Even as feverish speculations continue to circulate on fugitive businessman Vijay Mallya's extradition, the reality is that the process may take more time. It is safe to say that Mallya's extradition is not happening anytime soon, as also echoed by the UK government.
British High Commission on Thursday hinted at one more hurdle that can be faced by the Indian authorities before fugitive businessman Vijay Mallya's extradition.
Reports of liquor baron Vijay Mallya being extradited to India picked up pace yesterday. Mallya, who has been living in the UK in the last few years and owes the Indian banks a sum of Rs 9,961 crore, was reportedly being sent back last night.
Vijay Mallya is accused of defrauding Indian banks of about Rs 9000 crore. His deportation to India may end a long-fought battle against him launched by Indian investigation agencies.
The London High Court on Thursday rejected fugitive liquor baron Vijay Mallya's plea seeking to challenge his extradition to India before the UK Supreme Court.
Embattled liquor baron Vijay Mallya, who is fighting against his extradition to India, on Thursday asked the government to accept his offer to repay 100 per cent of his loan dues and close case against him.
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