Liquor businessman Vijay Mallya said after losing a case in the UK High Court against the extradition order in India that he was 'disappointed' with the verdict, but would continue to take legal remedies as advised by his lawyers. The former owner of Kingfisher Airlines reiterated that he has offered to pay the outstanding loan amount to Indian banks, but that proposal has been rejected by banks. Mallya said in a statement on Monday evening, "I am naturally disappointed with the decision of the High Court. I will continue to take legal measures as per the advice of my lawyers. He said, 'I have repeatedly offered banks to repay the entire amount, but sadly to no avail.'
After Mallya's appeal to the High Court is dismissed, he now has 14 days to appeal to the British Supreme Court. Since Mallya has indicated to seek further legal remedies, the UK Home Department will wait for the outcome of that appeal before beginning Mallya's extradition to India. Mallya has been in the UK since March 2016 and has been on bail since April 2017 after his arrest on an extradition warrant.
Mallya has also expressed disappointment over 'things being said in the media' about himself. He said, 'I am also disappointed with what is being said in the media, according to which I should face trial in India for fraud of Rs 9,000 crore. Please note that the charges against me and others relate only to three installments of loans totaling Rs 900 crore from IDBI Bank in 2009. ' Mallya also cited a London High Court order in this regard. Mallya argued in the High Court that the lower court wrongly approved his extradition while a case of cheating and money laundering was registered against him under the conspiracy. The High Court, however, rejected Mallya's arguments.
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