Vijay Mallya is busy polishing his image, but that may work for a web series, not in real life. At this point, it’s no longer just about recovery—it’s a matter of criminal conspiracy, fraud, and money laundering.
Time and again, the delegations from the UK that have come to India have faced Indian pressure to extradite Mallya and Nirav Modi, the sources revealed.
The Supreme Court has awarded a 4-moth jail sentence and imposed a fine of Rs 2000 on Indian fugitive and businessman Vijay Mallya in a 2017 contempt case.
Mallya family trust owned Rose Capital Ventures, which is based out of British Virgin Islands, mortgaged his London property in 2012 to UBS for a 5 year loan of 20.4 million pounds. In 2017, the loan had expired and Mallya was not able to pay the outstanding dues on it.
The ED had confiscated the assets of the fugitives Vijay Mallya, Nirav Modi and Mehul Choksi under the stringent Prevention of Money Laundering Act (PMLA).