Indian business tycoon Vijay Mallya, who is wanted in several cases for defrauding banks of crores of rupees, can be extradited to India anytime in the coming days, a news agency report said. The report quoted government sources as saying that the legal process for the same has been completed. Mallya had earlier lost his appeal in the UK top court on May 14 against his extradition to India. The report however did not mention the date of the extradition.
The agency said that on his return CBI is likely to get his custody first as they were the first agency to file a case against him. Mallya faces fraud charges worth Rs9,000 crore. He left India in March 2016 under the pretext of personal reasons.
Mallya is accused of defrauding 17 Indian banks by taking loans which he used to gain full or partial stake in about 40 companies abroad. On May 14, after the court ruling, he had again offered to repay 100% of his loan dues provided the case against him was closed.