UK High Court to hear Vijay Mallya’s new challenge to extradition on July 2
UK High Court is all set to hear Vijay Mallya's plea on July 2 in which the liquor baron has challenged the rejection of the petition against the extradition order by the Westminster Magistrate's court. Earlier, on April 5, the UK High Court had rejected a plea filed by Vijay Mallya against his extradition order. The Westminster Magistrates' Court had already ordered the extradition of Vijay Mallya which was accepted by the UK Home Office. Sources said that Vijay Mallya, who is accused of defrauding banks to the tune of Rs 9,000 crore, will run out legal options if his plea gets rejected on July 2. The UK Home Office spokesperson on April 8, had said, "Mr Mallya's application for leave to appeal against extradition has been refused by the High Court. Mr Mallya may now renew his application to the court." A Special Prevention of Money Laundering Act (PMLA) court in Mumbai had branded Vijay Mallya as the first fugitive economic offender following an appeal filed by the Enforcement Directorate. A case was registered against the Kingfisher Airlines Limited (KAL), its owner Vijay Mallya, chief financial officer of KAL A Raghunathan and some unidentified officials of IDBI on July 29, 2015. It was alleged that the IDBI bank officials had sanctioned and disbursed loans to KAL despite its weak financial situation, negative net worth and below par credit rating in violation of IDBI's corporate loan policy. An investigation by the Enforcement Directorate revealed that Vijay Mallya's KAL had fraudulently utilised significant portions of loan funds to service the existing debt. Substantial amounts were remitted outside India on the pretext of payment of lease, rentals, etc.
