The extradition hearing for today, of liquor tycoon, Vijay Mallya who was arrested by Scotland Yard over fraud and money laundering charges in Westminster is over now. The Crown Prosecution Service (CPS) will be presented on behalf of the Indian government and led by a barrister, Mark Summers. The barrister explained the detail of all loans from the different Indian bank.
While the hearing, the prosecution argues, guarantees offered were related to the brand, aircrafts and personal guarantee from Mr. Mallya himself. Mallya also said in Westminster Magistrate’s Court that, “Returning to England where I have lived since 1992 is not an escape.”
The layer represented the detail of two loan applications made by IDBI in the extradition hearing, which include a five-year loan for Rs. 950 crore made on October 1, 2009, and a six-month loan for Rs. 150 Crore on October 7, 2009. All the applications took place in 2009 in October and November. IDBI asks for a net worth of Mallya in late November 2009 – Kingfisher Airlines says it’s 1,395 crores.
Chief Magistrate, Emma Arbuthnot will hear the case of Maliya at Westminster Magistrate’s Court Until December 14 which will be presented by Britain’s Crown Prosecution Service on behalf of the Indian government.
kingfisher owner, out on a 650,000-pound bail bond following his arrest by Scotland Yard over fraud and money laundering charges.