https://www.bbc.com/news/business-46506824
Vijay Mallya can be extradited to India, London court rules
Indian business tycoon Vijay Mallya can be extradited from the UK to India where he faces fraud charges, a London court has ruled.
The extradition ruling will be passed to the Home Secretary for approval.
Mr Mallya, whose business empire once included Kingfisher beer, left India in March 2016 after defaulting on debts of more than $1bn (£785m).
He denies "fleeing" from India, and says he made an "unconditional" offer to pay back the sum in full in July.
Mr Mallya attended Westminster Magistrates Court for the hearing.
Following the hearing, Mr Mallya declined to say if he would appeal against the ruling.
"My legal team will be reviewing the judgment in detail and determining the next steps forward," he said.
The businessman's fall from grace is being avidly tracked in India, where he was once listed as one of India's wealthiest people.
Mr Mallya built his fortune from Kingfisher beer, before branching out into Indian cricket and Formula 1 racing. He set up the now defunct Kingfisher Airlines in 2005.
He faces a raft of charges relating to financial irregularities at Kingfisher Airlines. His monetary affairs are being investigated by India's Central Bureau of Investigation and the Enforcement Directorate, which handles financial crimes.
Nick Vamos, partner at Peters & Peters and former head of extradition at the Crown Prosecution Service, said the court decision was "a hugely significant judgment for the Indian government".
"Although Mr Mallya failed to convince the court that his prosecution was politically motivated, the Indian authorities pulled out all of the stops to achieve this result and undoubtedly will try to make political capital from it back home.
"However, they would be wise not to be too triumphalist as Mr Mallya has 14 days to appeal to the High Court, who might look askance at excessive gloating in the meantime," he added.
Vijay Mallya can be extradited to India, London court rules
- 10 December 2018
Indian business tycoon Vijay Mallya can be extradited from the UK to India where he faces fraud charges, a London court has ruled.
The extradition ruling will be passed to the Home Secretary for approval.
Mr Mallya, whose business empire once included Kingfisher beer, left India in March 2016 after defaulting on debts of more than $1bn (£785m).
He denies "fleeing" from India, and says he made an "unconditional" offer to pay back the sum in full in July.
Mr Mallya attended Westminster Magistrates Court for the hearing.
Following the hearing, Mr Mallya declined to say if he would appeal against the ruling.
"My legal team will be reviewing the judgment in detail and determining the next steps forward," he said.
The businessman's fall from grace is being avidly tracked in India, where he was once listed as one of India's wealthiest people.
Mr Mallya built his fortune from Kingfisher beer, before branching out into Indian cricket and Formula 1 racing. He set up the now defunct Kingfisher Airlines in 2005.
He faces a raft of charges relating to financial irregularities at Kingfisher Airlines. His monetary affairs are being investigated by India's Central Bureau of Investigation and the Enforcement Directorate, which handles financial crimes.
Nick Vamos, partner at Peters & Peters and former head of extradition at the Crown Prosecution Service, said the court decision was "a hugely significant judgment for the Indian government".
"Although Mr Mallya failed to convince the court that his prosecution was politically motivated, the Indian authorities pulled out all of the stops to achieve this result and undoubtedly will try to make political capital from it back home.
"However, they would be wise not to be too triumphalist as Mr Mallya has 14 days to appeal to the High Court, who might look askance at excessive gloating in the meantime," he added.
