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Vijay Mallya Says Offer of Repayment Not Linked to Extradition as Westminster Court to Decide His Fate Shortly

Vijay Mallya Says Offer of Repayment Not Linked to Extradition as Westminster Court to Decide His Fate Shortly

Fugitive liquor baron Vijay Mallya on Monday reiterated that he was ready to repay the loan taken from banks as well as his employees, ahead of a crucial hearing at the Westminster court that will take a call on his extradition today.

Stressing on the fact that the offer to repay as not linked to his extradition, Mallya said he would honour the verdict of the court.

A team of officials led by the Central Bureau of Investigation (CBI)'s Joint Director S Sai Manohar left for London on Sunday to attend the crucial hearing, sources said.

Mallya faces a case of loan default to the tune of Rs 9,000 crore besides allegations of money laundering and diversion of loan funds for purposes other than they were meant for. He is in self-imposed exile in London. He left for the United Kingdom in March 2016, taking advantage of the dilution in the CBI lookout notice against him.

Mallya has contested his extradition on the grounds that the case against him is "politically motivated" and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat. "I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud," he said in his recent Twitter post on the issue. "I have offered to repay 100 per cent of the principal amount to them. Please take it," he had tweeted earlier.

The judge's decision on whether to send Mallya's case to UK Home Secretary Sajid Javid can be appealed with the UK High Court's permission, with the person to be extradited entitled to make an application for permission to appeal to the High Court within 14 days of the date of the Chief Magistrate's ruling.​

 

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