Skip to content
Search

Latest Stories

Vijay Mallya Plans To Appeal Against UK Court’s Extradition Verdict

Former Indian business tycoon, Vijay Mallya’s legal team has confirmed on Wednesday (19) that Mallya intends to file a plea to appeal against the UK court’s ruling for his extradition to India inconnection with alleged fraud and money laundering charges.

"Mallya has now been able to consider the court's decision and intends to file an application for permission to appeal at the appropriate time," said Anand Doobay, Partner at UK-based Boutique Law LLP, who has been Mallya's solicitor through the extradition trial process.


Soon after the ruling of Westminster Magistrates' Court last week, the embattled liquor baron told the journalists that he would study the judgement in detail and take necessary steps for next course of action.

According to the extradition treaty procedures, the chief magistrate’s ruling has been handed over to UK Home Secretary Sajid Javid as he is the the authorised minister to order Mallya’s extradition. The minister has 60 days to make a decision on the extradition of 63 year old business tycoon.

In the UK, the home secretary’s decision very rarely moves against court ruling as the minister has to review only limited number of bars to extradition which are unlikely to stop the extradition in this particular case.

"Whatever that decision (by the Home Secretary), the losing side has up to 14 days within which to approach the High Court and seek leave to appeal. Any appeal, if granted will be heard at the Administrative Court (High Court),” said the Crown Prosecution Service (CPS), which represents the Indian government in Mallya’s extradition case.

Vijay Mallya is wanted in India for legal proceedings on alleged fraud and money laundering charges amounting an estimates Rs 90billion.

More For You

Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less
Bank-of-England-Getty

The BoE also revised its economic growth forecast for 2025, reducing it by half. (Photo credit: Getty Images)

Bank of England cuts rates, lowers growth outlook

THE BANK OF ENGLAND (BoE) has cut interest rates by 0.25 percentage points to 4.5 per cent, with some policymakers supporting a bigger reduction to counter economic slowdown. However, the central bank signalled a cautious approach to future cuts, citing inflation concerns and global uncertainty.

The BoE also revised its economic growth forecast for 2025, reducing it by half. Chancellor Rachel Reeves, who has been advocating for faster economic growth, faces a challenge as inflation is now projected to be nearly double the 2 per cent target this year.

Keep ReadingShow less