Tuesday, May 02, 2017

Kingfisher Airlines case: Vijay Mallya extradition a step closer, joint ED, CBI team in London to speak to prosecutors

New Delhi: A joint team of Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) have reached London to speak with prosecutors on the extradition of liquor baron Vijay Mallya, a Times Now report said. As per the report a four -member team is in the UK for the purpose. On April 18, the businessman was let off on bail nearly three hours after being arrested by the Scotland Yard. He was arrested under Mutual Legal Assistance Treaty (MLAT) after India had made an extradition request to UK officials.
Soon after Vijay Mallya’s arrest was made, Scotland Yard had released an official statement saying, “Officers from the Metropolitan Police’s Extradition Unit have this morning, Tuesday 18 April arrested a man on an extradition warrant. Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud. He was arrested after attending a central London police station, and will appear at Westminster Magistrates’ Court later today, 18 April.”
The beleaguered businessman is wanted by both ED and CBI in a loan default case. Last year, Vijay Mallya was declared a wilful defaulter for not being able to repay a sum in connection to Kingfisher Airlines which was grounded nearly five years back.
This has led to Mallya’s assets being sold off by the lenders. Recently, a consortium of banks led by the State Bank of India had sold the luxury property in Goa’s Candolim beach village to a person for a whopping Rs 73.01 crore after failing to do so three times.
02/05/17 Financial Express