Vijay Mallya, the ex-owner of Kingfisher Airlines, who is currently wanted in India on the charges of fraud and money laundering has been ordered to extradited to India by the Westminster Magistrates Court in London where a case against him was heard today.
The UK court ordered Mallya's extradition to India and stated that he misrepresented facts.
The 62-year business tycoon landed himself in Rs 9,000 crore fraud and money laundering case and fled the country during March 2016. He is currently based in the United Kingdom and is on bail since his arrest on an extradition warrant.
In a bid to save himself, he recently offered to pay back the loans to the Indian Banks. Previously during early 2016, a consortium of Indian banks led by the largest lender - State Bank of India rejected Mallya's offer to pay back nearly 80 percent of the principal loan amount which he owed to them.
The Westminster Magistrate Court in London has ruled that the business tycoon can be sent to India to face fraud charges trial, as per the report. His case will now be referred to the U.K.'s home office. He currently has 14 days to appeal against the verdict.
Earlier, during many occasions, the business tycoon said that the fraud and money laundering cases against him are politically motivated and he is made to go through media trial. Mallya is also facing charges of diversion of loan funds for purposes other than they were actually meant for.