Liquor baron Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, is all set to be expelled from the Rajya Sabha as Chairman Hamid Ansari on Tuesday turned down his resignation on procedural grounds.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
India had given a formal extradition request for Mallya as per the Extradition Treaty between India and the UK through a note verbale on February 8
According to the ED, Mallya was summoned on four occasions for questioning in connection with the contract signed in December 1995 with London-based firm Benetton Formula Ltd for promotion of the Kingfisher brand abroad.
State Bank of India has appointed valuer to assess the value of assets of Mallya.
Mallya's lawyer said he wants to return, but a British court has prohibited him from leaving the UK without its permission.
Mallya, who flew out of India in March 2016, has been living in the United Kingdom since then.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
In a rare appearance since shifting base to the United Kingdom, troubled Indian businessman Vijay Mallya was seen having a good time in London as he watched the Indian Premier League final between Royal Challengers Bangalore and Sunrisers Hyderabad on Sunday. In a video gone viral, Mallya senior is seen having a gala time with his son Siddharth along with a few others. The video was posted by Siddharth as he watched the IPL final with his father. Siddharth also mentions about Force India's third place finish in the Monaco Grand Prix, which also took place on Sunday. "Here we are, watching together from London. It doesn't get better than Sergio Perez getting a podium (for Mallya co-owned Force India). Hopefully we can add to what has been an epic day of sports so far," says Mallya junior in the video as he catches the IPL action with his father on the big screen.
The quantum of punishment is expected to be pronounced on May 5 by the court.
'There is an bligation on Finance Minister and Prime Minister to take the country into confidence'.
The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.
Mallya, who has been out on bail since Scotland Yard executed an extradition warrant in April this year, will be in the dock for the duration of the trial -- scheduled to end on December 14.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, on Monday resigned from Rajya Sabha.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
Politely decline to be prime minister, and hand the baton to someone else in the BJP -- like Sonia did to Manmohan Singh -- advises Krishna Prasad.
Confiscation of the tycoon's properties will start from February 5.
A bench comprising Justices A K Goel and U U Lalit took note of the fresh status report, referred by Attorney General K K Venugopal that efforts to bring Mallya back were on.
The former liquor baron owes several banks a total of as much as Rs 9,000 crore
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 assets are estimated to be worth over Rs 6,000 crore.
It is understood that Vijay Mallya left the country for UK on March 2 using a diplomatic passport issued to him by virtue of him being a sitting Rajya Sabha Member of Parliament.
In 2012, Diageo signed a deal to buy stake in USL.
Liquor baron Vijay Mallya's tenure in the Rajya Sabha came to an end on Wednesday with Chairman Hamid Ansari accepting his fresh resignation letter.
He claims that his offer to pay back the debt owed by his now-defunct airline had been rebuffed by the banks and the Indian government.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
Sebi has now proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if it orders his or her disqualification.
Gandhi on Thursday accused Jaitley of lying to hide the "free passage" he allegedly gave to Mallya to flee to London, while the ruling party counter-claimed that the Gandhi family had tried to salvage the sinking Kingfisher Airlines with a "sweet deal".
For his 60th birthday in December, which he called his third 20th birthday, Mallya flew in Enrique Iglesias to perform at his villa overlooking the beach in Goa.
On July 2, Mallya's legal team and the Crown Prosecution Service - arguing on behalf of the Indian government - will go head to head to reiterate factors for and against the businessman's extradition to Arthur Road Jail in Mumbai.
The high court permitted Mallya to appeal on only one limited ground to be able to address the admissibility of some evidence and interpretations made by the lower court.
Vijay Mallya remains India's top representative in world motorsport body FIA at a time when he is facing extradition to India over charges of unpaid debts and money laundering.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
Mallya offered to pay Rs 4,000 crore (Rs 40 billion) as settlement.
Fugitive businessman Vijay Mallya was booed by a section of India supporters as he entered the Oval arena to watch India's crucial ICC Champions Trophy encounter against South Africa, in London.
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.
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
The Ethics Committee of Rajya Sabha headed by veteran Congress leader Karan Singh, decided to give Mallya one week time to explain his conduct.
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