Co-owner Vijay Mallya resigned as a director of the Force India Formula One team but will continue to serve as principal and shareholder.
The next phase is when factors such as prison conditions in India are likely to take centre-stage.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The Chinese Embassy in London and the Chinese ambassador to the UK issued strong statements condemning the UK's move as a disregard for its representations and 'blatant' interference in its internal affairs.
As the 25-year-old, who has refugee status in Australia, got off a plane in Bangkok on November 27, Thai immigration police were waiting to arrest him based on an Interpol "red notice" from Bahrain.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
Friday's hearing is expected to be presided over by Chief Magistrate Emma Arbuthnot, the same judge who had ordered the extradition of former Kingfisher Airlines boss Vijay Mallya last December.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
Switzerland extradited a former Costa Rican soccer boss to the United States on Friday and approved the handover of a former South American federation chief to Uruguay in the latest judicial steps in the corruption scandal that has engulfed the sport.
Six soccer officials were arrested in Zurich on Wednesday and detained pending extradition to the United States over suspected corruption at soccer's governing body FIFA, the Swiss Federal Office of Justice (FCOJ) said in a statement.
A beleaguered Vijay Mallya may have walked free on bail within hours of his arrest but the event, which he nonchalantly dismissed as "usual Indian media hype", had rival parties claiming credit for it and engaging in recrimination.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
This is the second day in a row that air travel in Hong Kong has been affected. A mass sit-in by the protesters was witnessed on Monday, while all flights in and out of the region were cancelled after 4 pm.
US prosecutors may find it difficult to get a number of the people they have charged in the FIFA bribery scandal to face the music.
Swiss authorities have begun questioning the soccer officials who were arrested in Zurich in May in a corruption scandal and are facing extradition to the United States, legal sources said.
Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
'It's a moot point if Kailaasa will ever evolve beyond being a haven for a fugitive from justice,' notes Devangshu Datta.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
This is an increment of about 0.50 per cent compared to the last budget.
Bahraini footballer Hakeem Al Araibi, who fled Bahrain in 2014 and was later granted asylum in Australia, was arrested in Bangkok in November on an Interpol notice issued at Bahrain's request.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
'The notion of a single unarmed town challenging the might of the People's Republic is a little absurd,' says Mihir Sharma.
India has asked Pakistan to investigate the evidence given to it on the Mumbai terror attacks and extend legal assistance so that the perpetrators could be brought to justice, Foreign Secretary Shivshankar Menon told reporters in New Delhi on Monday.The conspiracy behind the Mumbai terror attack was hatched in Pakistan and hence India has requested Pakistan to fulfill its commitments, informed Menon.
It was alleged that Salem had demanded Rs 5 crore as protection money from businessman Ashok Gupta, a resident of Greater Kailash in south Delhi, in 2002.
Mallya's Kingfisher Airlines has been accused of defaulting bank loans of over Rs 9,400 crore.
South African President Cyril Ramaphosa has conceded for the first time that divisions within the ruling African National Congress prevented appropriate action against the influential Gupta family from India for their alleged involvement in massive state capture.
The 62-year-old former Kingfisher Airline boss' defence team, led by Clare Montgomery, opened the day by branding the government of India's evidence presented in the case as "utterly unfounded".
The Enforcement Directorate has alleged that this is a bigger bank scam in volume than that of the Punjab National Bank fraud by fugitive diamantaires Nirav Modi and Mehul Choksi, as it involves fraud to the tune of about Rs 16,000 crore.
India-born surgeon Jayant Patel, who returned to Australia from the US to face manslaughter and other charges in the deaths of over a dozen patients, was granted a conditional bail on Monday by a court in Brisbane.
Troubled Force India co-owner Vijay Mallya dismissed speculation of a possible sale of his team to Australian David Brabham or Formula One's former commercial supremo Bernie Ecclestone.
ED said the United Kingdom's home secretary recently referred India's request for extraditing the tainted businessman to a court for initiating legal proceedings against him.
'This is not a time for bruised egos, face, shows of state power, petulance, or PR spin. It is a time for big-tent action across a table -- no matter how acrimonious -- with transparency, and with the media present,' notes Vijay Verghese.
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
British magistrate presiding over Mallya extradition case says India's prison standards are not up to the mark
The trial, which opened at the London court on December 4, is aimed at laying out a prima facie case of fraud against the 61-year-old embattled businessman, who has been based in the UK since March 2016.
The 47-year-old faces allegations that he publicly released secret documents relating to the United States.
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'The adversary will always exploit India's anti-national elements.'
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
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