Vijay Mallya ‘king of Good Times’ All set to fly back to India After Court agrees to Extradition
Vijay Mallya is often called the King of Good Times but Times they are a changing with the UK Courts deciding that the businessman should be extradited from Britain to India to face fraud charges. India wants to extradite him to face criminal action after defaulting on debts worth more than $1.4 billion (1.1 billion pounds), which were taken out by his now-defunct Kingfisher Airlines.
He had recently tweeted indicating his willingness to repay the entire principle amount that he owed financial institution .
Chief Magistrate Judge Emma Arbuthnot gave her verdict that Mallya can be extradited to India to stand trial on the charges brought by the CBI and ED.
He has two weeks to challenge the order by the UK courts .
allya has contested his extradition on the grounds that the case against him is "politically motivated" and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat.
"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 most recent Twitter post on the issue.