Embattled liquor baron Vijay Mallya, seeking to 'clarify' the remarks he made outside London's Westminster Magistrate's Court on Wednesday"in which he said he met Finance Minister Arun Jaitley before leaving India" called the controversy a media creation.
In a high court ruling dated 8 May, Judge Henshaw had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks - State Bank of India, Bank of Baroda, Corporation Bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu and Kashmir Bank, Punjab and Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt Ltd were entitled to recover funds amounting to nearly 1.145 billion pounds
The extradition trial, which opened at the London court on 4 December last year, is aimed at laying out a prima facie case of fraud against Mallya. It also seeks to prove there are no "bars to extradition" and that the tycoon is assured a fair trial in India over his now-defunct Kingfisher Airlines' alleged default of over Rs 9,000 crore in loans from a consortium of Indian banks. The CPS has argued that the evidence they have presented establishes "dishonesty" on the part of the businessman and that there are no bars to him being extradited from the UK to face Indian courts. Mallya's defence team has deposed a series of expert witnesses to claim he had no "fraudulent" intentions and that he is unlikely to get a fair trial in India.
With inputs from agencies