This story is from April 21, 2020

ED hopeful Vijay Mallya will be in India in 28 days

The Enforcement Directorate is hopeful of getting former Kingfisher Airlines chairman Vijay Mallya extradited from the UK in less than 28 days after the High Court in London rejected his appeal against a district court’s order to extradite him to India for the offence of money laundering.
ED hopeful Vijay Mallya will be in India in 28 days
NEW DELHI: The Enforcement Directorate (ED) is hopeful of getting former Kingfisher Airlines chairman Vijay Mallya extradited from the UK in less than 28 days after the high court in London rejected his appeal against a district court’s order to extradite him to India for the offence of money laundering.
Mallya is accused by Indian agencies of defrauding government banks of Rs 9,000 crore and laundering the ‘proceeds of crime’ through shell companies created in tax havens abroad.

A senior ED official monitoring the case said an agency team is likely to leave for London soon to take custody of the fugitive businessman who has 14 days to seek permission to appeal in the UK’s Supreme Court.
“Permission to appeal in the UK’s Supreme Court is only granted on constitutional matters. Since this is not a constitutional matter or an issue requiring constitutional interpretation, it is very unlikely to get such permission,” the official said.
Once Mallya’s request for appeal is rejected, the investigating agency gets another 14 days to take him into its custody and extradite him, sources said.
This will be a major success for the ED which is also hopeful of getting extradition order for another high profile accused Nirav Modi, the diamond trader who defrauded Punjab National Bank (PNB) of over Rs 13,500 crore.
Modi, like Mallya, had fled to the UK to evade arrest from Indian agencies probing banking fraud and money laundering. However, unlike Mallya, who had obtained bail from a UK court in 2017, Modi was arrested and is currently in a prison in London. His matter will also come up soon, the ED official said.
The high court concurred with the district judge’s order that “loans were disbursed as the result of a conspiracy between the named conspirators” and these loans to Kingfisher Airlines were “made despite KFA’s weak financials, negative net worth and low credit rating”.
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