BENGALURU: The arrest of Vijay Mallya by the Scotland Yard is unlikely to shape up into any immediate action as far as complaints in India (the consortium of banks to whom Mallya owes huge sums of money) against the business tycoon are concerned.
According to lawyers with expertise in the matter, it will still be a long-drawn process with the British government having to take a call on India’s extradition request.
Supreme Court Bar Association member M G Kumar told Express that with Mallya being granted bail later in the day, the extradition hearing will commence in the court 21 days from the day of the arrest.
“Mallya has the option of going on appeal,” he said, hinting that this could be a long-drawn process. As for the court proceedings, the Indian government will have to be a party to it once the hearing commences, he added.
Advocate Thrivengadam B C pointed out that it will take an enormous effort from the Indian government to substantiate the allegations.
“It’s not going to be an easy task for extradition. A prima facie case has to be established that he has committed a fraud. Based on mere FIR, the courts in England will not appreciate this as a prima facie case. There should be explicit evidence given by the Indian government,” he said, estimating that it will take a couple of years for the case to see its logical end.
Mallya, who has been time and again sharing caustic tweets against the Indian media, took to Twitter again after the arrest, stating, “Usual Indian media hype. Extradition hearing in court started today as expected.”
other cases against the king of good times
Civil Contempt
Vijay Mallya faces civil contempt of court charges in a case filed by the consortium of banks before the Karnataka HC. His presence is required for framing of charges against him. The HC had issued bailable warrant against him to be executed at his UK address through the Union Ministry of Home Affairs. He has been directed to appear before the court by June 1.
On March 10, a division bench of Justices B S Patil and B V Nagarathna issued the warrant on Mallya’s UK address. The bench had also asked the high court registry to communicate to the Under Secretary, Union Ministry of Home Affairs, for compliance of the warrant. On January 27, the HC issued bailable warrant against Mallya, returnable by February 17, to his Bengaluru address as he failed to appear before the court on December 2, 2016.
Shares attached by ED
The HC on Monday granted time till Thursday to Enforcement Directorate (ED) to decide whether UBHL shares attached by it could be sold. It also asked ED to take a call whether the proceeds of the sale could be paid to the banks which had lent to the now defunct Kingfisher Airlines or deposited with the court in the event of the sale of the shares. The court was hearing an appeal filed by UBHL against a single judge bench’s order in February to wind up the firm for its failure to discharge guarantee obligations to the banks which had lent to KfA.
Appeal before DRAT, Chennai
The Bengaluru bench of the Debt Recovery Tribunal, on January 19, ordered Vijay Mallya and three companies -- Kingfisher Airlines Ltd, United Breweries (Holdings) Ltd and Kingfisher Finvest (India) Ltd -- to pay `6,203.35 crore. The tribunal made it clear that in the event of failure of the defendants to pay the amount, the banks are at liberty to sell the hypothecated/mortgaged movable/immovable properties. The tribunal had also ordered Mallya and other defendant companies to pay the money along with 11.50 per cent interest per annum from the date of filing the suit till the complete realisation of debt. Mallya had filed appeal before the Debt Recovery Appellate Tribunal, Chennai, against this order. The case is pending.