UK court orders Indian tycoon Mallya to be extradited on fraud charges

Indian tycoon Vijay Mallya should be extradited from Britain to India to face fraud charges resulting from the collapse of his defunct Kingfisher Airlines, a London court ruled on Monday. India wants to bring criminal action against Mallya, 62, whose business interests have ranged from aviation to liquor, over $1.4b in loans Kingfisher took out from Indian banks which the authorities argue he had no intention of repaying. Mallya has denied any wrongdoing and says the case against him is politically motivated. He said he would consider his next steps and whether to appeal. Judge Emma Arbuthnot, England’s chief magistrate, told Westminster Magistrates’ Court false representations had been made to Indian banks, including state-owned IDBI, regarding what the loans would be used for and she ruled there was evidence of conspiracy to defraud the lenders and of money laundering.<br/>