London: Vijay Mallya, the one-time billionaire who co-owns the Force India Formula One team, said on Wednesday that Indian authorities had no grounds to extradite him from Britain and he would not be leaving.
India wants Mallya to face trial after the liquor and aviation tycoon was charged with conspiracy and fraud over a loan to his defunct Kingfisher Airlines. It said this month that it had asked Britain to extradite him.
Mallya, who has a base in London as well as a country home bought from the father of triple world champion Lewis Hamilton, moved to Britain last March after banks sued to recover some $1.4 billion the Indian authorities say is owed by Kingfisher.
The government-owned banks are trying to hold me personally responsible for the failure of India’s largest airline and to repay their debts," Mallya told Reuters in an interview at the launch of his team's 2017 car.
"I have a counter claim on them as well. That is in the judicial system right now," Mallya said.
"Recovery of loans made to a PLC is a purely civil matter. The central bureau of investigation, at the behest of the government, converted it into a criminal matter. And then charges of defrauding banks and money-laundering appeared.
23/02/17 Reuters/New Indian Express
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India wants Mallya to face trial after the liquor and aviation tycoon was charged with conspiracy and fraud over a loan to his defunct Kingfisher Airlines. It said this month that it had asked Britain to extradite him.
Mallya, who has a base in London as well as a country home bought from the father of triple world champion Lewis Hamilton, moved to Britain last March after banks sued to recover some $1.4 billion the Indian authorities say is owed by Kingfisher.
The government-owned banks are trying to hold me personally responsible for the failure of India’s largest airline and to repay their debts," Mallya told Reuters in an interview at the launch of his team's 2017 car.
"I have a counter claim on them as well. That is in the judicial system right now," Mallya said.
"Recovery of loans made to a PLC is a purely civil matter. The central bureau of investigation, at the behest of the government, converted it into a criminal matter. And then charges of defrauding banks and money-laundering appeared.
23/02/17 Reuters/New Indian Express
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