Comments
India's Central Bureau of Investigation on Tuesday charged Vijay Mallya, the liquor and aviation tycoon, with having misappropriated a 9 billion rupee ($132 million) loan granted by a government-owned bank, a CBI spokesman said.
Mallya moved to Britain in March last year after being pursued in courts by banks seeking to recover about $1.4 billion owed by his defunct Kingfisher airline. The Indian authorities had sought ways to have Mallya, who has said he is living in "forced exile", deported by Britain.
The CBI action against Mallya may open the doors for India to begin work on a formal extradition process, after Britain rebuffed India's deportation request last year.
A spokesman for Mallya was not immediately reachable for comment.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.