india

Updated: Feb 04, 2019 23:50 IST

The British government has cleared the extradition process of businessman Vijay Mallya, wanted in multi-crore loan recovery cases by several banks, to India.

Home Secretary Sajid Javid formally signed the extradition order for Mallya. Mallya has two weeks to appeal the government order, which came after the Westminster magistrates court on December 10 allowed his extradition to India to face legal proceedings in the cases.

“On 3 February, the Secretary of State, having carefully considered all relevant matters, signed the order for Vijay Mallya’s extradition to India. Vijay Mallya is accused in India of conspiracy to defraud, making false representations and money laundering offences,” a home office spokesperson said.

Mallya said he intends to appeal the decision. “After decision was handed down on Dec 10,2018 by Westminster Magistrates Court, I stated my intention to appeal. I couldn’t initiate appeal process before a decision by Home Secretary. Now I’ll initiate the appeal process,” he was quoted by ANI as saying.

People familiar with developments in India said New Delhi had taken note of the decision of the UK Home Secretary to sign on the order for Mallya’s extradition to India. “While we welcome the UK government’s decision in the matter, we await the early completion of the legal process for his extradition,” one of them said.

Mallya, 63 — a former Rajya Sabha member of parliament in India — is fighting multiple lawsuits after defaulting on bank loans worth about Rs 9,000 crore that he had taken for the now-defunct Kingfisher Airlines, which he founded in 2005. Disputes over the loans led to civil lawsuits in India and the UK as well as criminal fraud charges.

Mallya has been presenting his version of the charges on Twitter and before television cameras outside the court to counter the narrative that he “ran away” with banks’ money. In June 2018, he released on Twitter letters to Prime Minister Narendra Modi and finance minister Arun Jaitley dated 2016, seeking fair play and justice.

Recently he had taken to social media to question the narrative that he “ran away” with Rs 9,000 crore from banks, asking if it is justified when his assets worth Rs 13,000 crore had been reportedly seized.

Banks are eyeing two superyachts and a collection of valuable cars that they believe he may own.

On January 5, Vijay Mallya became the first Indian businessman to be declared a fugitive economic offender by a special court in Mumbai.

In separate legal proceedings, Mallya is also set for a trial in May next year to prevent his posh London home, overlooking Regent’s Park, from foreclosure by Swiss Bank UBS.