Vijay Mallya given bail

14th June, 2017 by Ron Emler

Vijay Mallya, the former head of United Spirits and Kingfisher Airlines, has been given bail until 4 December, when a hearing lasting up to a fortnight has been scheduled on India’s request for him to be extradited from Britain.

The beleaguered tycoon, who is wanted in India for defaulting on loans from several banks and contempt of India’s Supreme Court, yesterday came out of Westminster Magistrates court fighting. He told reporters that he is confident that the case against him will be dismissed. He denies all the charges.

“I have not eluded any court…I have enough evidence to prove my case,” Mallya said. “I don’t make statements to the media because anything I say is twisted. There is enough evidence; that will speak.”

“I go to cheer India in a cricket match and it becomes a media frenzy. It’s better I don’t say anything,” he added.

When asked about the estimated £1 billion he allegedly owes the consortium of banks, Mallya retorted: “You can keep dreaming about £1 billion. You don’t know the facts so don’t ask irrelevant questions.”

After coming out of the court, Mallya said it was his lawful duty to be there and that he will make his submission before the appropriate court.

Mallya has been in the UK since March 2016 and was arrested by Scotland Yard on an extradition warrant on 18 April. He was quickly released after furnishing a bail bond worth £650,000 and assuring the court of abiding by all conditions associated with extradition proceedings, such as the surrender of his passport and a ban on him possessing any travel documents.

An initial case management hearing date of 17 May had been postponed to 13 June.

The next hearing in the process is scheduled for 6 July but Mallya’s defence team revealed that a second extradition request is expected from the Indian government.

Whatever the eventual verdict, the case is likely to go through a series of appeals before its conclusion.

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