The extradition of liquor baron Vijay Mallya, which was taken by loan from Indian banks, was approved by the UK government. Mallya has 14 days to appeal against the extradition. It is worth mentioning that this is the second good news for the government after the extradition of Christian Mitchell, alleged intermediaries in the Augusta Westland case. The Government of India has welcomed this decision of the UK government. At the same time, Union Minister Arun Jaitley tweeted on Mallya’s extradition that, “India has moved one step further to bring Mallya.”
The court of London had already given order
Earlier in December 2018, the Westminster Court of London had also approved the extradition of Vijay Mallya. 63-year-old Mallya, who was the head of Kingfisher Airlines in India, has been involved in more than 9,000 crore rupees scams and money laundering cases.
This case is lodged against Mallya
Alcohol trader Vijay Mallya is facing money laundering and loans from banks to spend the amount of money in other works besides not refunding Rs 9,000 crore loan. Mallya is currently living in London. Taking advantage of weakening CBI’s lookout notice against him, he fled to Britain in March 2016.
Kingfisher Airlines got the loan
During the UPA government in 2004, Vijay Mallya’s company Kingfisher got a loan from the government for the first time to launch the airline. For the second time Mallya’s company got this loan only during the UPA government in 2008. Mallya took a loan of about 8040 crores loan, but still the airline could not run, which is the main reason that the airlines were offered as a luxury airline, Kingfisher failed to compete in cheap flights. And failed to attract more air passengers.
Kingfisher Airlines announces NPA in 2009
In the year 2009, the government declared this company an NPA or a Non-Performing Asset. NPA means when a bank gives a company loan which is very difficult to raise. But despite the NPA, all the loans were re-organized in 2010 during the UPA-II period. Even after this, the bad days of Kingfisher did not go away, they were in constant loss.