In its latest crackdown against the flamboyant businessman, Central Bureau of Investigation (CBI) is all set to kick start the extradition process against Vijay Mallya on Wednesday. This is believed to be Narendra Modi government’s biggest move to bring back Mallya. Mallya who has spent last 10 months in UK, evaded the law for almost a year. As per the reports by India Today, CBI is asserting that it has a strong case against the now-defunct Kingfisher Airline’s owner. The agency will move to Ministry of External Affairs tomorrow regarding the same. The court has been already informed about the move by CBI.
Meanwhile, defending former prime minister Dr Manmohan Singh following allegations that the UPA regime facilitated loans to Vijay Mallya’s now-defunct Kingfisher Airlines from a consortium of banks, the Congress Party looked to turn the tables on the ruling dispensation asking how did they let the liquor baron leave the nation in the first place. Demanding the Centre to provide evidence of the charges against Dr Singh, Congress leader Rizwan Arshad asserted that Prime Minister Narendra Modi-led party has never been able to produce a shred of proof in its allegations.
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Once called the ‘King of Good Times’ due to his extravagant lifestyle, Mallya and his companies have allegedly been embroiled in financial scandals, and controversies since 2012. A group of 17 Indian banks are trying to collect approximately ₹9,000 crore in loans which Mallya has allegedly routed to gain 100% or a partial stake in about 40 companies across the world. Investigative agencies, such as Income Tax Department and the Central Bureau of Investigation for charges including financial fraud and money laundering, and the Attorney General said that Mallya’s assets abroad are “far in excess to loans taken by him”. The 17 banks petitioned the Supreme Court of India in March 2016 to try to prevent Mallya from leaving the country, but the Indian government indicated that he had already left.