Indian businessman and founder of the now-defunct Kingfisher Airlines, Vijay Mallya, has failed to overturn a 2018 court decision to extradite him to India where he is facing fraud charges.
The UK High Court on Monday rejected Mallya’s appeal seeking to reverse the extradition ruling. The tycoon’s defense had cited “multiple errors” in the 2018 decision, which revolves around a fraud case opened after Mallya’s Kingfisher Airlines went bankrupt in the early 2010s, however, their legal argument was to no avail.
Mallya, who dealt with various business projects ranging from Formula 1 team Force India to pharmaceuticals and liquor, is accused of taking – but not repaying – sizable loans from Indian banks worth roughly $1.4 billion. The collapse of Kingfisher Airlines also triggered the fall of his other businesses.
The tycoon fled to the UK back in 2016 and refused three summonses to return to India to face trial, which he calls politically motivated. A year later, he was arrested by UK police but was released on bail.
Think your friends would be interested? Share this story!
