Skip to content
Search AI Powered

Latest Stories

Vijay Mallya Rejects Latest Offer To Indian Banks Linked To Christian Michel’s Extradition

Erstwhile Indian business tycoon, Vijay Mallya who presently residing in the UK has rejected the news on Thursday (6) that his offer to repay all his dues to the Indian banks was linked to the extradition of UK national Christian Michel to India in AgustaWestland chopper scam.

The liquor baron urged the banks to take back their money as he wants to end the narrative that he stole public money.


“Respectfully to all commentators, I cannot understand how my extradition decision or the recent extradition from Dubai and my settlement offer are linked in any way. Wherever I am physically, my appeal is “Please take the money”. I want to stop the narrative that I stole money,” Mallya tweeted on Thursday.

Grounded Kingfisher Airline boss on Wednesday (6) in a series of tweets had urged the banks to accept his offer to pay back 100 per cent of the principal loan amount. Mallya has also rejected the news that his offer is linked with the extradition proceeding being completed in the UK to extradite him to India.

The tweets by Mallya has come just a few hours after alleged AgustaWestland VVIP chopper deal agent Christian Michel was brought to India from UAE. India’s first successful extradition since India started same proceedings against economic offenders such as Vijay Mallya, Nirav Modi, and others.

The former liquor baron who is on bail in the UK on an extradition warrant after his arrest in April 2017 and is on his legal battle against efforts undertaken by India investigators to extradite him to India on charges of fraud and money laundering worth Rs 90 billion.

Westminster Magistrates’ Court is expected to pass its judgement on Mallya’s extradition trial in London on December 10.

The extradition case was started at the London court last year with an objective at laying out a prima facie case of fraud against Mallya and establishing there are no hurdles to him being extradited to face legal proceeding in India over the allegations related to loans made out to his Kingfisher Airlines.

Yet another court case in the UK, Mallya had also lost his appeal in UK’s Court of Appeal against a High Court order in favour of 13 Indian banks to recover loans nearly £1.145bn.

More For You

FCA warns against regulatory 'race to bottom' in growth push
Nikhil Rathi
TOLGA AKMEN

FCA warns against regulatory 'race to bottom' in growth push

FINANCIAL REGULATOR has cautioned against compromising regulatory standards while attempting to boost economic growth, revealing the delicate balancing act facing Britain's financial oversight.

In a frank discussion with MPs, the Financial Conduct Authority (FCA) leadership highlighted the challenges of their expanded mandate to promote business competitiveness alongside consumer protection, reported the Times.

Keep ReadingShow less
Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less