LONDON — Vijay Mallya built a reputation as India’s “King of Good Times.” He invested in alcohol brands, air travel and auto racing. His parties featured an array of celebrities, businesspeople and entertainers.

But the freewheeling, flamboyant style he cultivated may be coming back to haunt him. A British court ruled on Monday that Mr. Mallya, 62, should be extradited to his native India, which he fled in 2016 in the face of a mountain of unpaid bills and fraud accusations.

The government of India has accused Mr. Mallya of conspiracy to defraud, making false representations to make a gain for himself and money laundering.

Mr. Mallya’s lawyers have argued that there was insufficient evidence to pursue a case against him and that the prosecution was politically motivated. They also said he was at risk of being subjected to a flagrantly unfair trial because of a combination of political pressure and media reporting.