Vijay Mallya, facing extradition trial in money laundering case worth nearly Rs 9,000 crore, will appear in a London Court for closing arguments today. Today is the final hearing in the case and the judge may set a timeline in the high-profile case. A joint team of investigation agencies — Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) — has already left to the United Kingdom to represent the case in the Westminster Magistrates’ court.
Mallya has received as series of setback recently after the UK court confirmed that the bulk of the evidence submitted by the Indian authorities will be admissible in the case in the last hearing on April 27. Mallya’s defence team has deposed a series of expert witnesses to substantiate the four objections, including claims that he had no “fraudulent” intentions and that he is unlikely to get a fair trial in India. While Indian side has submitted several documentation and sovereign assurances to satisfy the court that his human rights would not be breached.
He also took to social media to clarify that he made the statement “after a long period of silence” because he had filed an application before the Karnataka High Court on June 22, setting out available assets of approximately Rs 13,900 crores.
He has since lost his appeal in the UK’s Court of Appeal against a High Court order in favour of 13 Indian banks to recover funds amounting to nearly 1.15 billion pounds.
The High Court order in favour of the State Bank of India (SBI) led consortium had reinforced a worldwide freezing order against Mallya’s assets.
It was followed by a related enforcement order last month granting permission to the UK High Court Enforcement Officer to enter Mallya’s properties in Hertfordshire, near London, where he is based.