Friday, October 30, 2020

India businessman Vijay Mallya loses UK appeal against extradition to India to face fraud charges


Indian business tycoon Vijay Mallya lost an appeal in Britain’s High Court on Monday against his extradition to India to face fraud charges.

The allegations, which include money laundering, are related to the collapse of the now defunct Kingfisher Airlines that Mallya chaired. Kingfisher took out loans from Indian banks worth in excess of $1.4 billion (€1.3 billion), which authorities argue he had no intention of repaying.

“The SDJ [senior district judge] was entitled to find that there was a prima facie case of fraud by false representation,” the judge said in their ruling.

The dismissal of the High Court appeal effectively paves the way for the 64-year-old’s extradition to India to face the charges. However, Mallya has one final avenue to explore which would be an appeal to the UK Supreme Court, which he would have to make within the next 14 days. Even if he were to make such an appeal, though, the UK’s highest court is under no obligation to hear the case.

- Advertisement -

If he does apply, the UK Home Office would wait for the outcome of that appeal. But if he does not, under the India-UK Extradition Treaty, the Home Office would be expected to certify the court order for the business tycoon to return.

The extradition of the former Indian Member of Parliament would be a success for India’s Prime Minister Narendra Modi who has led the push to prosecute and convict former politicians and tycoons who left India when his Hindu nationalist BJP came to power. As well as his business interests, Mallya was also a politician for a secular party in India.

Mallya, the co-owner of the F1 team Force India, which went into administration two years ago but survived, was once known as “the King of Good Times” after the slogan of one of his premium beers, as well as his renowned love of the party lifestyle.

Regarding the original 2018 extradition ruling, Vijay Mallya’s attorney, Clare Montgomery, had argued that Judge Emma Arbuthnot had made “multiple errors” because she did not consider the financial status of Kingfisher Airlines.

- Advertisement -

At the time, Arbuthnot dismissed Mallya’s claim that the case was brought by political motivations back home and that he would not receive a fair trial in India.


Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

South Korea’s former Vice Justice Minister sentenced to jail for bribery and sexual favors

Former Vice Justice Minister Kim Hak-eui, the figure at the center of one of Korea’s biggest political sex scandals, was placed under pretrial detention...

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World


Latest News

This Week

Indonesia sentenced stockbroker to life over fraudulent investment scheme

Renowned stockbroker Benny Tjokrosaputro was sentenced to life by the Jakarta Anticorruption Court on Monday evening for his role in a major graft scandal...

Former Malawi minister sentenced to six years in prison over passport corruption scandal

A court in Malawi’s capital Lilongwe on Thursday sentenced a former home minister to six years in prison after he was found guilty in...

Namibia probes oil firm Acer petroleum over bribes paid to government officials

THE mines and energy ministry says it is investigating allegations that an oil company bribed some senior officials to fast-track licence applications. The senior officials...

Taiwan’s UMC fined $60m for theft of trade secret to help Chinese chipmaker

Taiwan’s UMC has pleaded guilty to trade secret theft in the United States and will pay a $60 million fine in a case where...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks