According to sources the 62 year old, who is wanted in India to face charges of fraud and money laundering amounting to around Rs 9,000 crore, is currently on a 650,000 pounds bail since his arrest on an extradition warrant by Scotland Yard in April last year. Meanwhile at the last hearing in the case on March 16, the judge had noted that it was "blindingly obvious" that rules were being broken by Indian banks which sanctioned some of the loans to the erstwhile Kingfisher Airlines owned by Mallya.
Moreover the CPS, representing the Indian government, has argued that the evidence they have presented establishes "dishonesty" on the part of the businessman and that there are no bars to him being extradited from the UK to face Indian courts. Accordingly Mallya's defense team has deposed a series of expert witnesses to claim he had no "fraudulent" intentions and that he is unlikely to get a fair trial in India.
Furthermore if the judge rules in favor of the
Indian government, the UK home secretary will have two months to sign Mallya's
extradition order. However, both sides will have the chance to appeal in higher
courts in the UK against the Magistrates' Court verdict.
