London: A London court on Monday ruled Indian tycoon Vijay Mallya should be extradited to India to face legal charges linked to default of bank loans.
Mallya, 62, whose business empire ranged from aviation to liquor accumulated debt of billions in loans from Indian banks, which Indian authorities say he had no intension of repaying.
The flamboyant businessman denied wrongdoing and dubbed the case against him as politically motivated.
Mallya is wanted in India on alleged money laundering charges amounting to Rs 9,000 crores.
However, the tycoon on Monday rejected the narrative he had ‘stolen’ money, and described his offer to repay the principal amount ‘not bogus’.
Mallya has been on bail since his arrest on an extradition warrant in April last year.
Chief Magistrate Judge Emma Arbuthnot gave her verdict after a year-long trial.