The Hush Post| 04:10 pm| 1-min-read
A UK court on Monday rejected Vijay Mallya’s extradition plea.
Mallya had earlier appealed against UK Home Secretary Sajid Javid’s order to extradite him.
The rejection is a win-win situation for Indian authorities who have been working towards bringing Mallya back to India.
However, Mallya now has the option to appeal to the Supreme Court in the UK, which might delay his extradition further.
Vijay Mallya had fled the country in 2016. He had defaulted on loan payments to a consortium of 31 Indian banks. He owes the banks about Rs 9,000 crore.
Mallya had earlier said that he was ready to return the money. From time to time, he has lashed out against Indian authorities for portraying his as the “poster boy” of economic offenders.
The beleaguered businessman faces charges of fraud, money laundering and violation of Foreign Exchange Management Act (FEMA).