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Vijay Mallya on Monday lost a UK High Court appeal against his extradition, a major turning point that brings India closer to getting back the embattled liquor tycoon wanted in the alleged fraud and money laundering charges amounting to Rs 9,000 crores.

Vijay Mallya loses UK High Court appeal, clock set for extradition to India

Vijay Mallya on Monday lost a UK High Court appeal against his extradition, a major turning point that brings India closer to getting back the embattled liquor tycoon wanted in the alleged fraud and money laundering charges amounting to Rs 9,000 crores. This marks a major turning point for the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) case against the businessman, who has been on bail in the UK since his arrest on an extradition warrant in April 2017. "We consider that while the scope of the prima facie case found by the SDJ [Senior District Judge Emma Arbuthnot] is in some respects wider than that alleged by the Respondent in India (CBI and ED), there is a prima facie case which, in seven important respects, coincides with the allegations in India," the judges noted. Based on the documents setting out the Indian government's case against Mallya, the judges said they found that the loans in question were disbursed as the result of a conspiracy between the named conspirators and that they were made despite Kingfisher Airline's weak financials, negative net worth and low credit rating. "The Appellant was party to false representations about inward investment, an exaggerated brand value, misleading growth forecasts, inconsistent business plans. Mallya's legal team had sought to challenge the Indian government's case on multiple grounds, including whether their client would be safe at Barrack 12 in Arthur Road Jail in Mumbai where he is to be held on extradition. If he does appeal, we wait for the outcome on that application," said a spokesperson for the Crown Prosecution Service (CPS), which represented the Indian authorities in the UK courts. Representatives from the ED and the CBI had been present in court in February during the three-day hearing, at the end of which Mallya had once again reiterated his message for the Indian banks to take back 100 per cent of the principal amount owed to them. Mallya has been based in the UK since March 2016 and remains on bail on an extradition warrant executed by Scotland Yard in April 2017. In her verdict at the end of a year-long extradition trial in December 2018, Judge Emma Arbuthnot had ruled that the "flashy" billionaire had a "case to answer" in the Indian courts.

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