In the latest development in the extradition process of Vijay Mallya to India, a UK High Court on Monday denied permission to appeal against the extradition order. The development comes after he offered to cut down his expenses to pay back debt his defunct Kingfisher Airlines owes banks in India. Vijay Mallya had sought to appeal against his extradition order issued by the UK government, after getting the go-ahead from the Westminster Magistrates’ Court.
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A spokesperson for the UK judiciary said that “the application for permission to appeal was refused by Mr Justice William Davis on 05/04/2019.” The spokesperson added that “the appellant (Mallya) has five business days to apply for oral consideration. If a renewal application is made, it will be listed before a High Court judge and dealt with at a hearing.”
The single judge court rejected permission for appeal based on papers submitted with the application.
Now that Mallya’s application has been rejected by Judge Davis, he has the option to submit for a “renewal”. The renewal process will lead to a brief oral hearing, which will include representations from the sides, Vijay Mallya and Crown Prosecution Service (CPS) on behalf of the Indian government. This process will determine whether the appeal can go for a full hearing.
The State Bank of India, which lent £1.142 billion ($1.5 billion) to Mallya for his now defunct Kingfisher Airlines, has been reassured by his lawyers that their client is willing to curb his spending to £29,500 a month, SBI’s lawyers told a London court on Wednesday. He is currently spending about £18,300 a week.
Mallya is facing criminal charges of money laundering, fraud, and violation of the Foreign Exchange Management Act (FEMA). Mallya has now the option to appeal to the Supreme Court which may take at least another six weeks.
Back in India, the investigative agencies have come down hard against the liquor baron for defaulting on the loans borrowed by him. The investigating agency ED had informally conveyed to Heineken NV, the part-owner of United Breweries (UB), that it intends to allow banks to auction Vijay Mallya’s shares in the company that the banks had attached once the court grants its approval to the agency for the same.