The UK Home Office on Wednesday, 12 December confirmed the receipt of the Westminster Magistrates' Court verdict in favour of Vijay Mallya's extradition to India.
After Chief Magistrate Judge Emma Arbuthnot on Monday, 10 December ruled that the "flashy" liquor baron had a "case to answer" in the Indian courts on allegations of fraud and money laundering amounting to nearly Rs 9,000 crores, the decision now lies with Home Secretary Sajid Javid to formally order the extradition.
The court had ruled that Mallya can be extradited to stand trial on the charges brought by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED). The judge referred the extradition case to Secretary of State.
Mallya has 14 days to challenge the verdict in the High Court.
- The 62-year-old former Kingfisher Airlines boss has been on bail since his arrest on an extradition warrant in April 2018
- Both the Indian govt and Mallya can appeal in the High Court within 14 days of the verdict
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UK Home Office Receives Westminster Magistrates' Court Order
The UK Home Office has confirmed the receipt of the Westminster Magistrates' Court verdict in favour of Vijay Mallya's extradition to India.
After Chief Magistrate Judge Emma Arbuthnot ruled that the "flashy" liquor baron had a "case to answer" in the Indian courts on allegations of fraud and money laundering amounting to nearly Rs 9,000 crores, the decision now lies with Home Secretary Sajid Javid to formally order the extradition.
Javid, the senior-most British-Pakistani minister in the UK Cabinet, has two months to make that decision but the extradition process itself would take longer if the entire appeals process is taken into account.
The UK Home Office said Tuesday it has received the Westminster Magistrates' Court verdict for Mallya's extradition to India.
Mallya Extradition To Speed Up Loan Recovery Process: SBI
India's largest lender State Bank of India (SBI) on Tuesday, 11 December, said extradition of fugitive liquor baron Vijay Mallya from the UK to India will speed up the recovery of over Rs 9,000 crore of loans.
"It (higher recovery of loans) is a possibility. The message is very loud and clear. What we have to understand is that it (extradition) is a message that you just can't default and run away from the country," SBI chairman Rajnish Kumar told PTI.
He said Mallya's extradition will have a deep impact on the overall lender and borrower relationship.
"Lending is an important business for both lenders and borrowers as we need investment in the country. But the message is that you have to do clean banking and you have to be very careful about what is the purpose of the money lent," said Kumar.
However, Kumar said the bank has not received any formal offer from Mallya for settlement of loans.
Vijay Mallya's Extradition To India Will Take Months: Lawyer
Judge Emma Arbuthnot ruled at Westminster Court that Mallya has a prima facie case of fraud to answer and sent her decision to UK Home Secretary Sajid Javid, who is to sign off on the extradition order under the extradition arrangements between India and the UK.
"Mallya is not likely to be extradited to India for months. Following the extradition judgment today, Mallya now has 14 days to appeal, during which period he wouldn't be arrested, but would remain on bail," Sarosh Zaiwalla, Founder & Senior Partner at UK-based law firm Zaiwalla & Co., told PTI on Monday.
Its Lesson For Those Who Misuse Nation's Properties: Chhattisgarh CM
It's a great success and a lesson for those who misuse the nation's properties said Chhattisgarh to Chief Minister Raman Singh following Mallya’s extradition verdict.
“This is a result of the strong determined steps taken by the Prime Minister and the Finance Minister,” Singh added.