MALLYA CASE: INDIA REITERATES FRAUD CHARGE IN COURT
LONDON:India insisted on Friday that documents and witness statements submitted to the Westminster Magistrates’ Court were evidence of “three chapters of dishonesty” on the part of businessman Vijay Mallya, who is facing charges of financial misconduct in India.
The hearing in Mallya’s extradition case witnessed intense arguments as judge Emma Arbuthnot remarked that the case resembled a “jigsaw puzzle,” but said that it was clear now from the various pieces that “banks ignored their own guidelines... rules were broken,” referring to the bank loans obtained by Mallya and his companies.
Facing allegations of financial misconduct to the tune of ₹9,000 crore, Mallya, who was briefly arrested last year, had his bail extended until April 27, the next date of hearing.
On Friday, the hearing focused on the admissibility of India’s documents against Mallya which, his lawyer Claire Montgomery claimed were worthless.
The judge asked for details about sources of some submitted emails, which the Crown Prosecution Service, acting on India’s behalf, is set to submit by April 20.
Crown Prosecution Service lawyer Mark Summers said some emails from Mallya proved intention of fraud, and alleged that he had concocted a story of duress to “further fraud”.
Mallya’s villa on Goa was also mentioned in connection with this.
“He had no intention to honour obligations under the loans taken”, Summers said, and told the judge that Mallya’s actions were part of his “fraudulent scheme”.
Mallya flew to the UK in March last year as creditors to his defunct Kingfisher Airlines closed in on him to recover their dues after he reached a $75 million sweetheart deal with Diageo Plc in return for stepping down as chairman of United Spirits Ltd.