Here’s a detailed overview of the case:
- Background:
- Vijay Mallya was the owner of Kingfisher Airlines, which ceased operations in 2012 due to financial troubles and accumulated debts.
- Kingfisher Airlines had taken loans from several Indian banks, and as the financial health of the airline deteriorated, it faced difficulties in repaying these loans.
- Loan Defaults and Allegations:
- The total debt of Kingfisher Airlines was significant, and it defaulted on loan repayments to various banks, including the State Bank of India (SBI).
- The allegations against Mallya include willful default on loans, financial mismanagement, and diversion of funds for purposes other than those for which the loans were availed.
- Investigations and Legal Proceedings:
- Investigations were initiated by Indian investigative agencies, including the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
- In 2016, a group of Indian banks approached the courts seeking Mallya’s arrest and the repayment of outstanding loans.
- Mallya’s Departure from India:
- In March 2016, as investigations were ongoing, Vijay Mallya left India and traveled to the United Kingdom. His departure raised concerns about potential efforts to evade legal proceedings in India.
- Extradition Proceedings:
- The Indian government initiated extradition proceedings to bring Mallya back to India to face charges. The extradition request was made to the UK authorities.
- Mallya was arrested in the UK in April 2017 based on India’s extradition request.
- Court Hearings in the UK:
- Extradition hearings took place in the Westminster Magistrates’ Court in London, where Mallya contested the extradition on various grounds, including the conditions of Indian prisons and the political nature of the charges.
- Extradition Decision:
- In December 2018, the Westminster Magistrates’ Court ruled in favor of Mallya’s extradition to India. However, Mallya had the option to appeal the decision.
- Appeals and Ongoing Legal Process:
- Vijay Mallya filed appeals against the extradition decision, and the case went through the UK legal system. As of my last knowledge update in January 2022, the legal process was ongoing.
It’s important to note that legal cases can be subject to developments, and it’s recommended to check the latest news sources for updates on the Vijay Mallya case.