London (CNN Business) Business tycoon Vijay Mallya should be extradited from the United Kingdom to India to face fraud charges, a London court ruled Monday.

The decision was confirmed by R. K. Gaur, a spokesperson for India's Central Bureau of Investigation. The extradition must also be approved by the UK Secretary of State.

Mallya, who was once known as the "King of Good Times," has waged an extended court battle to avoid extradition to India , where he has been charged with fraud and money laundering.

The beer baron took over as chairman of his father's United Breweries Group — known for India's hugely popular Kingfisher Beer — in 1983, and eventually poured money into a Formula 1 team and Indian Premier League cricket.

But the case against him is centered around Kingfisher Airlines, the carrier he founded that went bust six years ago.

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