what is vijay mallya doing now

what is vijay mallya doing now

1 year ago 40
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According to the search results, Vijay Mallya is currently residing in the United Kingdom. He is fighting an extradition case in the UK, as the Indian government is seeking to return him to India to face charges of financial crimes. Mallya is on bail since his arrest on an extradition warrant in April 2017. In March 2016, a consortium of banks approached the Supreme Court of India to stop Mallya from going abroad due to the pending money his companies owed them. As per media reports, he had already left India. Mallya is accused of fraud and money laundering, and he owes 17 Indian banks an estimated Rs 900 crore. The Central Bureau of Investigation (CBI) has claimed that Mallya bought properties worth Rs 330 crore in England and France during 2015-16, even as his Kingfisher Airlines was facing a cash crunch at the same time. Mallya was also ordered to pay £200,000 (₹18.1 million) to Indian banks by a United Kingdom court in June 2018. In October 2023, the Supreme Court of India awarded Mallya four months in jail in a contempt case and ordered him to return USD 40 million with interest within four weeks.

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