It was so easy for Vijay Mallya to flee the country without having to worry about his future and he is safe now. He looted India of crores of rupees and left the country to live in the UK in March 2016 because it has strict extradition laws.
The 62-year-old Mallya, Indian Konkani entrepreneur and a former politician was once elected as the member of parliament for a short term of 1 year. Mallya inherited his dad’s business and from then his venture started. He is the ex-chairman of Indian’s largest spirits company and is also the co-owner and Team Principal Sahara Force India Formula 1.
The escaping business magnate who is well known for his lavish culture and extraordinary lifestyle empathises in alcohol beverages, aviation infrastructures, real estates, and fertilizers. The Indian liquor tycoon and an ex Rajya Sabha MP, Mallya, founded Kingfisher Airlines in the year 2003. Kingfisher Airlines got its identity from United Breweries Group’s flagship beer brand, Kingfisher. However, this project got Vijay Mallya in big trouble.
Since his arrest in April 2017, the tycoon is on bail and is fighting extradition to India on charges of alleged fraud and money laundering. The UB group honcho and owner of Kingfisher Airline who disappeared has to return over Rs 9,000 crore to various banks.
India has been working hard to hand over him over the past 2 years. Finally, hard work paid off. In what seemed to be a massive win for the NDA government, the United Kingdom court today ordered the extradition of Vijay Mallya. The tycoon’s extradition notice will now be sent to UK Home Secretary. Vijay Mallya has 14 days to appeal against the order.
MaIlya had contested his extradition explaining to all that the case against him is “politically motivated”. “I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud,” he said in his recent Twitter post on the issue. “I have offered to repay 100 per cent of the principal amount to them. Please take it,” the businessman tweeted earlier.
However, after UK court’s order, finance minister Arun Jaitley said that any person trying to ‘cheat’ India will not be left alone. “Great Day for India. No one who cheats India will go scot-free. The judgment of UK’s Court is welcomed. An offender benefited during the UPA. The NDA brings him to book,” he was quoted as saying by news agency ANI.
The Central Bureau of Investigation too appreciated the decision. “We hope to bring him soon and conclude the case. CBI has its own inherent strengths. We worked hard on this case. We are strong on law and facts and we were confident while pursuing the extradition process,” a spokesperson of CBI said.
