See More on Facebook

Curiosity, Economics

UK court orders tycoon’s extradition to India

Vijay Mallya can be extradited back to India, a UK court rules.


Written by

Updated: December 11, 2018

A London court on Monday ordered extradition of liquor baron Vijay Mallya to India, where the now defunct Kingfisher Airlines boss is wanted for alleged in financial irregularities and loan default ammounting to over $1 billion US Dollars. The Vijay Mallya extradition case has been referred to UK Secretary of State Sajid Javid, who will pass an order based on the verdict.

In a setback to Mallya, Westminster Magistrates’ Court Chief Magistrate Judge Emma Arbuthnot ruled that that there was “no sign of a false case being mounted against him”, adding he could be extradited to India to stand trial on the charges brought by the Central Bureau of Investigation and the Enforcement Department, a PTI report said.

“Having considered evidence as a whole. There is a case to answer,” said Judge Arbuthnot, who was said to be extremely critical of how loans were granted and then used.

Mallya can file for a permission to appeal in the UK High Court against the ruling.

The 62-year-old has been on bail since his arrest on an extradition warrant in April last year, and the high-profile extradition trial had been going on since December 4 last year. A series of hearings have taken place in the last more than a year, though only seven days had been initially earmarked for it.

Mallya owes the money to 17 banks in India.

Earlier on Monday, speaking to reporters outside the court, Mallya refuted the charge that he had “stolen” money. He said his offer to repay the entire principal amount to the Indian banks was “not bogus”.

“My settlement offer is made before the Karnataka High Court. It is not related to this extradition trial. Nobody disrespects a court of law by making a bogus offer. The assets have been attached by the ED so they cannot be bogus assets,” he said.

Mallya said the value of his assets was more than enough to pay everybody and that was exactly what he was focusing on.

“I want to disprove the narrative that I have stolen (money),” he said, adding his legal team would review the judgment and take proper steps thereafter.

Referring to the settlement offer to the Karnataka High Court, Mallya said he had requested the court that the employees of Kingfisher be paid first if the settlement were granted.

“I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud,” he had said in his recent Twitter post on the issue.

Mallya had last week said he offered to pay back the full amount of the principal loan he owed to various banks.

In a series of tweets, he said, “Airlines struggling financially partly becoz of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that’s where Banks money went.I have offered to repay 100% of the Principal amount to them. Please take it.”

Meanwhile, according to reports, the judge’s decision to send Mallya’s case to UK Home Secretary Sajid Javid can be appealed with the UK High Court’s permission.



Enjoyed this story? Share it.


The Statesman
About the Author: The Statesman is one of India’s oldest English newspapers and a founding member of Asia News Network.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Curiosity, Economics

China-US trade deal bullish news for both countries, rest of world

From Chinese state media. State Councilor and Foreign Minister Wang Yi said Saturday that the China-US deal on the text of a phase-one economic and trade agreement serves as bullish news for both countries and the rest of the world. Speaking at a joint press conference with Slovenian Deputy Prime Minister and Foreign Minister Miro Cerar, Wang said China has, as always, been opposed to settling economic and trade disputes by imposing tariffs as there is no winner in a trade war. China has also rejected the use of unilateral pressure as it violates the rules of the World Trade Organization (WTO), said Wang. He pointed out that following rounds of back-and-forth negotiations, China and the United States have agreed on the wording of a phase-one economic and trade agreement, and the US side has promised to phase out additional tariffs on Chinese products. The agreement demonstrates the spirit


By Esther Ng
December 16, 2019

Curiosity, Economics

China, US in constant touch to resolve trade issues

China and the United States are in constant touch to resolve pending trade and economic issues, the Ministry of Commerce said on Thursday. The comment came ahead of Sunday’s US deadline for another scheduled round of tariff increases on Chinese imports worth almost $160 billion. If a trade deal is not struck by Sunday, computer monitors and toys will be among the Chinese export items likely to be affected. Gao Feng, a ministry spokesman, said the Customs Tariff Commission of the State Council has already worked out tariff exemptions on some soybean, pork and other products shipped from the US — the latest sign of tensions easing in the protracted trade conflict. The US seems to resort to brinkmanship by using a tariff deadline to pressure China in the ongoing trade talks for a phase one, preliminary deal, said Chen Wenling, chief economist at the China Center for International Economic Exchanges


By Esther Ng
December 13, 2019

Curiosity, Economics

Taiwan among top 10 study destinations for U.S. students

Thailand and Singapore among other Asian destinations. China welcomed the highest number of U.S. students last year, followed by Japan and India in second and third places, respectively, according to a recent survey about exchange students in Asia. South Korea, Thailand, Hong Kong, Vietnam, Singapore, Taiwan, and Indonesia rounded up the top 10 list of the most popular Asian countries among U.S. students. According to AsiaExchange, “The high level of education, low exposure to crime, economic freedom and good healthcare system are a few examples of why Taiwan is ranked 2nd on the annual Global Peace Index.” It’s also very safe to live in Taiwan, as crime rates are low, the Website stressed, noting that Taiwan’s focus on human rights, gender equality and freedom of speech has made it a top destination for education. Taiwan, whose institutions are strong and reliable, has remained la


By Warren Fernandez
December 12, 2019

Curiosity, Economics

Report: US officials lied about Afghanistan

Civilian, military officials misled public for nearly two decades about status of war, Washington Post review of documents finds. For nearly two decades, senior US civilian and military officials didn’t tell the truth about the war in Afghanistan, The Washington Post reported on Monday after reviewing more than 2,000 pages of government documents. The officials made pronouncements they knew to be false and hid evidence that the war had become unwinnable, the newspaper said interviews with those officials show. John Sopko, the head of the federal agency that conducted the interviews, acknowledged to the Post that the documents show “the American people have constantly been lied to”. The newspaper said that two major claims in the documents are that US officials manipulated statistics to suggest to the American public that the war was being won and that successive


By Esther Ng
December 11, 2019

Curiosity, Economics

7 of 10 Filipinos worried by presence of Chinese workers

China has increased its presence in the archipelago. The rising presence of Chinese workers in the country worry seven out of 10 adult Filipinos, according to the latest Social Weather Stations (SWS) survey, as the government recently launched a crackdown against Philippine offshore gaming operators (Pogos) which mostly employ Chinese nationals. The noncommissioned survey, conducted from Sept. 27 to 30, found that 31 percent “worried a great deal,” while 39 percent are “somewhat worried.” Highest in Metro Manila The proportion of those who were worried about the increasing number of Chinese workers in the country was highest in Metro Manila at 75 percent, followed by the Visayas at 71 percent, Luzon outside Metro Manila (69 percent) and Mindanao (67 percent.) About half of the respondents agree that the rising number of Chinese workers is a threat to national secur


By Philippine Daily Inquirer
December 6, 2019

Curiosity, Economics

Pakistan to launch Digital Pakistan Vision

Imran hopes to unleash ‘potential of youth and women’ with new venture. Prime Minister Imran Khan on Thursday said that with the introduction of the ‘Digital Pakistan Vision’, the full potential of the contribution of youth and the women to the economy will be unleashed. According to a press release from the Prime Minister Office: “The Vision sets Pakistan’s digital ambition and has been designed for the government and the private sector to work towards a digitally progressive and inclusive Pakistan.” Speaking at the launch ceremony of the initiative, the prime minister regretted not having launched it at the very beginning when his government was formed. “I should have given attention to Digital Pakistan earlier. This is the most important thing for Pakistan right now, especially its youth. The whole world is moving forward digitally and we have been l


By Asia News Network
December 6, 2019