Vijay Mallya extradition likely

Fugitive tycoon Vijay Mallya will be extradited to India to face fraud investigations, a court in the UK have decided. He is wanted in India for defaulting on Rs.9,000 crore in loans to his failed Kingfisher Airlines.

 Wanted in India for defaulting on 9000 crore in loans to Kingfisher, Mallya has an option of goping to a higher court.

He repeated to reporters that he was ready to repay 100 per cent of his dues – an offer he has repeatedly made on Twitter – but Kingfisher employees should be paid first. “Former employees of Kingfisher airlines are my first priority,” the 62-year-old said.

The flamboyant businessman left India in 2016 as a group of banks started legal proceedings to recover the loans. He has been living in a mansion near London since.

Vijay Mallya has the option of going to a higher court. He has been out on bail since his arrest.