Key Points
Indian officials accused the former Chief of Kingfisher Airlines of 9 thousand crore rupees of bank fraud and money laundering.
Vijay Mallya, a businessman of Rs 9 thousand crore bank scam, will be brought to India. Britain’s Home Secretary Sajid Javid has granted the extradition of Vijay Mallya to India. 63-year-old Vijay Mallya had a legal challenge against his extradition in a UK court in December. Alcohol trader Vijay Mallya is accused of bank fraud of Rs 9000 crore. Several agencies, including CBI, Income Tax Department, are investigating against him.
Mallya charges bank fraud and money laundering
Explain that under the extradition treaty procedures today the Chief Magistrate’s decision was sent to Home Secretary Sajid Javid because he is only authorized to order the extradition of Vijay Mallya. Indian officials accused the former Chief of Kingfisher Airlines of 9 thousand crore rupees of bank fraud and money laundering. The UK court had said that it is satisfied with the various assurances provided by the Indian government, including a video of prison cell.
17 banks, including SBI, were given in court in court against Mallya
Explain that Vijay Mallya had failed to lend the loan after Kingfisher Airlines got into a deficit. After this, 17 banks, including SBI, had filed the application in court against the demand for a stay on Mallya and when he went abroad. However, later it was revealed that Mallya had left the previous country.
Mallya was the chairman of the world’s largest liquor company
Vijay Mallya launched Kingfisher Airlines in 2003. For the first time in 2005, airlines started flying between Delhi and Mumbai. After this, the company also acquired Air Deccan, but after 2008, the flight of Kingfisher flew away from the runway and its flight was completely broken in 2014. Vijay Mallya was the chairman of Unitech Spirits, the world’s largest liquor company at one time, but had to pay the losses to Kingfisher Airlines after losing the company.In 2013, Foreign Company Diageo bought a large stake in Mallya’s United Spirits, but he resigned from the company’s position as chairman of the company with 515 million shares from Diageo.
Vijay Mallya is known for the flamboyant, luxurious parties
Graduate Vijay Mallya from the University of Calcutta is known for fluttering, plush parties and vintage cars. Photographs were in the headlines for many years with photographers’ models at the launch of the calendar. Vijay Mallya had more than 250 luxury and vintage cars. Mallya was inherited by UB Group father at the age of 28.
