In a candid interview from London, Lalit Modi spoke about his business success, personal wealth, IPL legacy and why he believes allegations against him are misplaced.
Vijay Mallya reacts to RCB’s record ₹16,600 crore sale, calling it ‘immensely gratifying’ as his ₹450 crore investment turns into the IPL’s most valuable franchise.
The Bombay High Court told Vijay Mallya to return to India if he wants his plea against the Fugitive Economic Offenders Act to be heard. The bench warned that without submitting to Indian jurisdiction, his challenge cannot proceed.
The long wait is finally over—and no one felt the emotions more than Vijay Mallya, the first owner of the Bengaluru franchise.
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
A CBI officer said the investigating agencies are aware of the possibility that Mallya, being a former Rajya Sabha Member, could seek political asylum in the UK.
The 64-year-old controversial businessman took over Rs 9,000 crore in loans from banks which the authorities argue he had no intention of repaying.
Vijay Mallya said he had offered to pay 100 per cent of the amount borrowed by Kingfisher Airlines to the banks but neither banks were willing to take the money nor the Enforcement Directorate was willing to release his attached assets at the behest of the banks.
Earlier, the embattled liquor baron lost his High Court appeal in London on April 20 against his extradition order to India over charges of fraud and money laundering, involving his now defunct Kingfisher Airlines, amounting to an alleged Rs 9,000 crores.
In a Right to Information or RTI response to activist Saket Gokhale released on Tuesday, the RBI said that outstanding loans amounting to Rs 68,607 crore taken out by the 50 firms have been written off till September 30, 2019.
