News India Live, Digital Desk: Vijay Mallya, former owner of Kingfisher Airlines and busy with ‘London Diary’, has once again left Indian investigative agencies and courts in limbo. During the hearing in the court, Mallya said that there is no fixed timeline for his return to India. Mallya, accused in the bank loan fraud case of more than Rs 9,000 crore, has been taking refuge in Britain since March 2016.
Mallya’s argument in court: “The matter is still under consideration”
Mallya has expressed his inability to return amid the London court and Indian legal process.
Legal complications: Mallya’s lawyers say that some “confidential legal processes” are going on in Britain, without the completion of which he cannot be sent to India.
Recourse to British law: Experts believe that Mallya is trying to prolong extradition by taking advantage of Britain’s refugee rules and human rights laws.
Stand of Indian agencies: The CBI and the Enforcement Directorate (ED) have been continuously pressing for attaching Mallya’s properties and bringing them back, but legal hurdles remain a hindrance.
9000 crore scam and ‘fugitive’ tag
Vijay Mallya is accused of defrauding a group of Indian banks (mainly SBI).
Kingfisher Airlines: Mallya allegedly shifted the loan worth thousands of crores taken in the name of saving this airline to other countries.
FEO Act: Mallya was the first person in India to Fugitive Economic Offenders Act (FEOA) Was declared a criminal under.
Property Auction: So far, banks have recovered a major part of the loan by selling Mallya’s shares and properties, but Mallya’s personal appearance is still pending.
Will Mallya ever come back?
The British government has already approved his extradition, but the case is pending due to asylum or other technical reasons. The Indian Ministry of External Affairs is in constant touch with the UK Government to resolve this ‘secret’ legal hurdle.
Comments are closed.