MALLYA: Viyay Mallya likely to be extradited from UK soon, set to lose cases, unlikely to hold on there

UPDATE: Reports from London stated this evening that Vijay Mallya might be extradited to India within a matter of a few weeks, as he is set to lost the last opportunity to legally fight the case in UK courts… and the only option left for him now will be to face the law in India. –IHN-NN


MALLYA AGAIN … Absconding billionaire businessman Vijay Mallya says he is ready to repay

NEW DELHI: Fugitive billionaire businessman Vijay Mallya, after trying all tricks in his trade and yet not able to extricate himself from cases, made a fresh request to the Modi government on Thursday to accept his offer of “full repayment of his loan dues”, and close the cases. Mallya, who made his money from family-run liquor business, the Kingfisher group based in Karnataka, lost his money partly in his aviation foray in the early 2010s.
He made the offer while responding to the government’s plan to roll out an economic stimulus package of the order of Rs 20lakh crore, as part unveiled by Union Finance Minister Nirmala Sitharaman, based on an offer Prime Minister Narendra Modi made to the nation two days ago. Mallya lamented that his repeated offers to repay his dues – with conditions attached – were dismissed by the government. Mallya owes Indian banks as high as Rs 90,000crore and is declared a willful defaulter – one who has the resources but would not repay. 

Indian banks’ NPAs, recently of the order of Rs 10 lakh crore, were mostly siphoned out of India by business sharks through foul channels since the time of the UPA governments, when those like then finance minister P Chidambaram allegedly gave many considerable help to fool banks.
Mallya, a former Rajya Sabha MP during the Congress-UPA rule, escaped from India with loads of wealth and leaving behind the hefty sums he took as loans from Indian banks, took refuge in the UK, where he has business and other interests. There, he took legal recourse to fight the extradition moves by the CBI and ED for the past few years. Well-connected in the UK, Mallya cocked a snook at the government through his manipulative ways.
However, those in the government like Nitin Gadkari, are known to be close to Mallya, and often pleaded his case in private.

“Congratulations to the Government for a Covid-19 relief package. They can print as much currency as they want but should a small contributor like me who offers 100 per cent payback of state-owned bank loans be constantly ignored,” he asked in a tweet.

A couple of weeks ago, Vijay Mallya had filed an appeal in the UK Supreme Court after losing an appeal in the London high court against an extradition order to India on alleged charges of fraud and money laundering related to unrecovered loans to Kingfisher Airlines. –IHN-NN


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