An attorney for Indian prosecutors rejected the "grandiose narrative" that Vijay Mallya is the victim of a government conspiracy and urged a London court to extradite the founder of Kingfisher Airlines Ltd. in a series of fraud and laundry charges of money.
Mark Summers, an attorney for Indian prosecutors, said Mallya must return to his home country to face a trial for allegedly breaching a series of loans from Indian state bank IDBI for his bankrupt airline that were obtained under false pretexts.
"The court is invited to ignore the grand narrative of the defendant," Summers said in arguments presented to the court at the start of a two-week extradition hearing on Monday. "Pruned of rhetoric and hyperbole, despite the obviously prominent nature of this case in India, there is nothing strange or remarkable about the government's intention to prosecute."
Mallya, who is free with 650,000 pounds ($ 879,000) Bail, was arrested in London in April after a consortium of 17 banks accused him of intentionally breaching with more than 91 billion rupees ($ 1.4 billion) in debt accumulated by Kingfisher Airlines, which he founded in 2005 and closed seven years later. 19659002] Mallya, 61, wearing a navy blue suit with her characteristic long, gray hair, told reporters during an unexpected judicial evacuation before the hearing on Monday that "the allegations are baseless, unfounded."
Mallya, nicknamed the "king of good times," left India a year ago for England to be closer to her children. Since then he has refused to return, claiming that he fears an unfair trial and that government agencies are conducting a biased investigation. He is fighting extradition on that basis and citing human rights issues around prison conditions in India.
"At the heart of this application is a criminal failure," Mallya's lawyers said in court documents. The accusations are driven "by politicians of all kinds, all of whom benefit only from the demonization of former KFA senior executives, the bankers who lent him, and – crucially – the man who now presents himself as the embodiment of all evils of capitalism in contemporary India, Dr. Mallya. "
After taking over an empire of beer and liquor from his father in the 1980s, Mallya built Kingfisher Airlines into one of India's leading operators until it was founded in the middle of a debt in 2012. He has gradually ceded control of its beverage business to its rivals in recent years.
One of those rivals, Diageo Plc, filed a lawsuit against him last month to recover a $ 40 million payment when he was expelled from United Spirits Ltd. after Diageo bought a controlling stake. It is also looking for around $ 141 million in questionable payments made by companies affiliated with Mallya.