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Sunday 4 December 2016

India seeking deportation of tycoon Vijay Mallya from London

Published 22/04/2016 | 15:46

Vijay Mallya's debts were reportedly triggered by the failure of his Kingfisher Airlines
Vijay Mallya's debts were reportedly triggered by the failure of his Kingfisher Airlines

Indian investigators have asked the External Affairs Ministry to request the deportation from the UK of a flamboyant businessman accused of fleeing to London in March while owing more than a billion dollars to Indian banks.

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Ministry spokesman Vikas Swarup said the Enforcement Directorate, which has been investigating Vijay Mallya's debts, asked the ministry to cancel his passport and seek his deportation after he failed to appear for questioning.

Mr Swarup said the ministry is seeking legal opinions on whether to proceed with the requests.

The opposition Congress party has accused the government of letting Mallya leave India while being pursued by banks for debts totaling 9 billion rupees (£94 million). The government denies the charge.

Mallya's debts were reportedly triggered by the failure of his Kingfisher Airlines.

Finance minister Arun Jaitley defended Mallya's departure, saying the banks had not initiated the legal process to prevent him from leaving the country by the time he boarded the flight out of India.

Mallya was once hailed as India's version of British tycoon Sir Richard Branson for his investments in a brewing and liquor company, an airline, a Formula One team and an Indian Premier League cricket club.

His downfall was triggered by the failure of Kingfisher Airlines, which he launched in 2005. The Indian government in 2012 suspended the licence of the airline after it failed to pay pilots and engineers for months.

Mallya ceded management control of his flagship United Spirits Limited to global spirits company Diageo.

Diageo's agreement last month to pay Mallya 75 million dollars in exchange for his resignation as chairman of USL prompted a legal push by competing creditors, who say they should have the first claim to that money.

Mallya is famous for a flashy lifestyle and lavish parties attended by fashion models, Bollywood movie stars and cricket players.

Press Association

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