Indian business tycoon Vijay Mallya can be extradited from the UK to India, a UK court ruled on Monday.
Mr Mallya, who fled to London in March 2016, is wanted for financial fraud in India after defaulting on debts estimated to be more than $1.36 billion (AUD).
The 62-year-old Indian liquor baron once owned and ran the now defunct Kingfisher Airlines and his business empire included Kingfisher beer, an Indian Premier League cricket team and a Formula One racing team.
On Monday, when he attended Westminster Magistrates Court, he denied any wrongdoing.
Indian business man Vijay Mallya is filmed by the media as he takes a smoking break outside Westminster Magistrates Court in London, Monday, Dec 10, 2018. Source: AAP
“It is unfortunate the Judge has found a prima facie case that I made misrepresentations to the IDBI Bank only and persuaded them to loan money to the Kingfisher airlines. Be that as it may, the Judge was perfectly entitled to make whatever judgement he thought fit.
“I have my rights. (pause) You heard the judge.
"My legal team will be reviewing the judgment in detail and determining the next steps forward," he said.
Vijay Mallya left India after a consortium of banks got together to start legal proceedings to recover the loans he took for Kingfisher Airlines.
He has been living in London since.
He is a high-profile figure who has, in the past, been called "India's Richard Branson" and the "King of Good Times" for his lavish lifestyle.
Vijay Mallya recently offered to repay 100 per cent of the principal amount he owed to the banks in India, saying: "Please take the money".
The extradition ruling will now be passed to the UK Home Secretary, Sajid Javid for approval.
Vijay Mallya Source: Facebook
"India's clout is growing"
Security Analyst Neelu Ranjan says the news of the UK court allowing Mr Mallya’s extradition shows India’s growing clout internationally.
“Just a few days ago, Christian Michel, who is a British citizen and was involved [as the alleged middleman in the graft-tainted AgustaWestland chopper deal], was extradited to India from the UAE.
“A third country extradited the British national to Indian authorities.
“Now the agencies have worked to get Mallya extradited. This shows how India’s clout is growing,” he told SBS Hindi.
Twitterati abuzz with Mallya
As soon as the news came in, Twitter started buzzing with tweets about Mallya's extradition order.
Soon, #modigetsmallya started trending on Twitter.
Calling it a great day for India, Finance Minister Arun Jaitley tweeted: "No one who cheats India will go scot-free."
Many gave credit to India's Prime Minister, Narendra Modi for his relentless pursuit.
Others, however, were not as quick to celebrate.
(With inputs from Jitarth Bharadwaj)
