Heena Sharma Blog

Embattled liquor tycoon Vijay Mallya , wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 90 billion, is set to appear before the Westminster Magistrates' Court here on Monday when his extradition trial is listed for a judgment hand-down. The 62-year-old former Kingfisher Airlines boss has been on bail since his arrest on an extradition warrant in April last year. He 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," the flamboyant businessman twee...

The UK's Court of Appeal refused Mallya the permission to appeal against a UK High Court order in favour of 13 Indians banks to recover funds amounting to nearly £1.145 billion. Current Affairs News : Vijay Mallya has lost his attempt to appeal against a UK High Court order in favour of 13 Indian banks to recover funds amounting to nearly £1.145 billion, in another setback to the embattled liquor tycoon. The UK's Court of Appeal refused the 62-year-old businessman, who is separately undergoing an extradition trial in a UK court over fraud and money laundering charges by the Indian authorities, the permission to appeal against the High Court order dated May 8. In the ruling, Judge Andrew Henshaw had refused to overturn a worldwide order freezing Mallya's assets and also denied permission to appeal, which left Mallya with the only option of turning to the Court of Appeal. Judge Henshaw's order marked the first recorded case of a judgment of the Debt Rec...

MEA added India had sent request to Malaysia to extradite Naik and it was waiting for a response Current Affairs News : The government has left no stone unturned in convincing a UK court that fugitive businessman Vijay Mallya must be extradited to India, External Affairs Ministry spokesperson Raveesh Kumar said on Friday. "Extradition hearings have been going on. I understand that the closing submissions in the case have already been made. We now wait for the verdict. I can only assure you that we have left no stone unturned in our efforts to convince the courts that the extradition of Vijay Mallya to India should take place," Kumar told reporters in response to a question. In February 2017, India made a formal request to the UK for the extradition of Mallya, who faces charges of financial misconduct amounting to nearly Rs 90 billion in debt owed to Indian banks by his defunct Kingfisher Airlines. When asked about the location of fugitive...

Fugitive liquor baron Vijay Mallya is wanted in India for his Kingfisher Airlines’ default on nearly Rs 90 billion worth of loans, among other cases Current Affairs   :  In a major blow to business tycoon Vijay Mallya, a UK high court on Tuesday ruled in favour of Indian banks seeking to collect more than $1.55 billion from him. The court refused to overturn an Indian court’s worldwide order for freezing of Mallya’s assets. Mallya and his now defunct Kingfisher Airlines   are embroiled in several court cases ranging from money laundering to tax evasion and loan defaults. The tycoon has been on an self-imposed exile in the UK since he left India on March 2, 2016. What the judgment implies The UK high court judgment will enable banks to enforce an earlier judgment of an Indian court against Mallya’s assets in England and Wales. The worldwide freezing order prevents Mallya from “removing any assets from England and Wales up to that value or to in any way dispos...