Fugitive Indian businessman Vijay Mallya has lost his final court battle in the United Kingdom. Mallya, whose extradition has been demanded by India, has lost his application to appeal. The fate of the tycoon now is in the hands of the UK Home Secretary who will be approached by India to fasten the extradition process.

Earlier this month, Mallya had filed an appeal in the UK Supreme Court after losing an appeal in the London High Court against an extradition order to India on alleged charges of fraud and money laundering related to unrecovered loans to Kingfisher Airlines.

Mallya, promoter of the defunct Kingfisher Airlines, is wanted in India over alleged fraud and money laundering charges amounting to estimated Rs 9,000 crore.

The ED has attached many properties of Mallya in the last few years under the Prevention of Money Laundering Act. He was arrested by the UK authorities on April 20, 2017 on the request of the Indian investigative agencies.

-with agency inputs

First Published:May 14, 2020 3:50 PM IST