A team of the Central Bureau of Investigation will visit the United Kingdom soon where the extradition proceedings of Liquor baron and former Kingfisher boss Vijay Mallya will be held from May 17 onwards. On Tuesday, Mallya was arrested by the Scotland Yard police, but was granted bail a few hours later.
For India to win the case and bring Mallya back, it would have to put up a strong argument. The court would decide whether Mallya would be extradited or tried in the UK itself. The CBI team would put forth four major cases to back its argument to get Mallya back to India and try him before an Indian court.
This case relates to the one filed by the Enforcement Directorate in March 2016. A case under the Prevention of Money Laundering Act was filed against Mallya for allegedly sending abroad Rs 900 crore from his company.
The CBI case:
The CBI had in July 2015 filed a case against Mallya and officials of the IBDI bank. It was alleged loans above a permissible limit had been sanctioned by the bank to Mallya. It was stated the banks had foregone protocol.
The loan default case:
This case relates to the loan default of Rs 9,000 crore. A consortium of 17 banks led by the State Bank of India had alleged that the loans were not repaid since 2012. The banks had in March last year moved the Supreme Court to prevent Mallya from leaving the country. However, the petition was filed six days after he had already left the country.
The SFIO case
This July 2016 case filed by the Serious Frauds Investigation Office deals with the financing of the now defunct Kingfisher Airlines. In the notices issued to 17 companies for taking loans from banks to finance the airline, the SFIO sought to know the source of the funds.
In March 2016, a court in Hyderabad had issued a non-bailable warrant against Mallya in a negotiable instruments case. It was alleged that a cheque of Rs 50 lakh paid to the GMR Hyderabad International Airport Ltd had been dishonoured.
A court in Mumbai had in July 2016 issued a non-bailable warrant against Mallya. The application was filed by the Airports Authority of India in which it was stated that Kingfisher airlines had dishonoured two cheques worth Rs.100 crores.