Vijay Mallya loses UK High Court appeal in extradition case

Dismissing his appeal against the 2018 order to extradite him to India, a UK High Court on Monday refused to grant any relief to embattled liquor baron Vijay Mallya. This brings him a step closer to be prosecuted back home on charges of money laundering and criminal conspiracy.

Rejecting the grounds cited by Mallya’s attorney, Claire Montgomery, the court upheld special district judge (SDJ) Arbuthnot’s judgement, the court observed “ We consider that while the scope of the prima facie case found by the SDJ is in some respects wider than that alleged by the respondent in India, there is a prima facie case which, in seven important respects, coincides with the allegations in India”.

Finding merit in the Indian agencies' case of conspiracy and fraud, Justice Irwin and Justice Laing in their 46-page judgement observed, “..The three loans were disbursed as the result of a conspiracy between the named conspirators.The loans were made despite KFA’s weak financials, negative net worth and low credit rating. The loans were made despite the fact that KFA, as a new customer, did not meet the norms of IDBI’s Corporate Loans Policy,”

Commenting on the conduct of Mallya, the court observed, “ The Appellant was party to false representations to induce the loans that funds would be inducted by way of unsecured loans, global depository receipts and equity. The Appellant was party to false representations about inward investment, an exaggerated brand value, misleading growth forecasts, inconsistent business plans (including the January 2009 business plan).”