It’s been a long, long, long saga. An epic battle between the Indian government and business tycoon, Vijay Mallya. Famous for building the alcoholic brand Kingfisher from scratch, he got into every business possible like owning Formula 1 and cricket teams while also being a part of the airline industry, the latter leading to his eventual decline.
However, his decline was quick as he got into plenty of legal battles with the state and declared his bankruptcy. For the past few years, the ‘King of Good Times’ has been living in UK and it was in 2018 that there was an extradition order passed against him, to bring him back to India. However, his was quick to appeal against the decision.
2 years later, a UK court has gone on to dismiss that appeal by the liquor baron and the order was passed just a few minutes ago on 20th April. He is a wanted fugitive in India with charges of financial fraud worth Rs 9,000 crore that were accumulated in borrowings by his company, Kingfisher Airlines (KFA).
Though Mallya has continuously denied wrongdoings in recent months and even through his Twitter account, he is considered to be a super-criminal in India. In fact, he has even promised to pay back the loans. It was in December 2018 that the extradition was announced and the now 64-year old’s plea has been rejected.
His recent tweet on 31st March read, “I have made repeated offers to pay 100 percent of the amount borrowed by KFA to the Banks. Neither are Banks willing to take money and neither is the ED willing to release their attachments which they did at the behest of the Banks. I wish the FM would listen in this time of crisis.”
Does this mean that the tycoon will soon be flown to India? Or is there a further twist in the tale? Keep reading ReadScoops.com for complete updates on the same.
