Vijay Mallya News: The end of good times is almost here! Absconding business tycoon set to be extradited to India

It seems like the run of the business tycoon aka 'King of Good Times', Vijay Mallya is finally over! The founder of the now defunct Kingfisher Airlines, Mallya can be extradited to India anytime soon as all the legal processes have been completed, as per a report by news agency IANS quoting top government sources. The development comes in the wake of Mallya losing his appeal in the UK top court on May 14 against his extradition to India."We will soon bring back Mallya to India anytime in the coming days," a top Enforcement Department source related to the development said, the report added. He said, "As he has lost his appeal in the UK Supreme Court there, we have completed all the legal process for his extradition."

CBI, ED working on the process

The teams of CBI and the ED are already working on the process of extradition to India. A CBI source related to the development said that after his extradition, it will take his custody first as it was the first agency to file a case against him.

A major roadblock in the extradition was cleared on May 14 when Mallya lost the case. Now the Narendra Modi government will have to bring him back in the next 28 days. Since May 14, it has already been more than 20 days since the UK court rejected his plea. The former parliamentarian, who ran India's largest spirits company, United Spirits, and founded the now defunct Kingfisher Airlines, faces charges of fraud and money laundering worth Rs 9,000 crore. He left India in March 2016 under the pretext of personal reasons. 

Mallya has defrauded at least 17 Indian banks, drawing loans which he allegedly routed to gain full or partial stake in about 40 companies abroad. Mallya after losing an appeal in the London High Court on April 20 against an extradition order to India, filed an appeal in the UK Supreme Court last month.