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United Kingdom Court has dismissed Vijay Mallya's petition against extradition to India. The High Court of England and Wales on Monday dismissed an appeal against his extradition to India. Vijay Mallya was involved in a fraud of Rs. 9000 crores and had been declared as a defaulter. Mallya is wanted in India on the charges of money laundering amounting to an estimated Rs.9000 crores. Vijay Mallya fled the country in year 2016 after his company Kingfisher Airlines got trapped in debts of around Rs.9000 crores taken from many banks. The dismissal of the plea by the High Court will allow his extradition to India to face the charges in Indian courts.
Vijay Mallya now has 14 days with him to apply for an appeal to the UK supreme court. If he does apply, the UK Home Office would wait for the outcome of that appeal. But if he does not, under the India-UK Extradition Treaty, he would then be extradited to India within 28 days.
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Mallya has been staying in UK since 2016 and had been on bail on an extradition warrant given in April 2017. The court declared that the documents specifying the details of the money-laundering case against Mallya state that the loans were provided to the company despite the company's weak financial position and low creditworthiness which is a result of a planned conspiracy.
The Appellant [Mallya] 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.
The Appellant's dishonest intention not to repay the loans is shown by his later conduct in trying to avoid the personal and corporate guarantees, judges of the High Court said.