Run against time for King of Good Times Liquor baron Vijay Mallya – His passport has been revoked by the External Affairs Ministry

0
2453
Vijay Mallya
Vijay Mallya, Chairman of Kingfisher Airlines

King of Good Times Liquor baron Vijay Mallya’s passport has been revoked by the External Affairs Ministry. The 60-year-old businessman had left the country for London early last month while owing nearly a billion dollars to banks. Time is really bad for the Vijay and team.

Announcing the decision, MEA spokesperson Vikas Swarup tweeted today:

“After having considered replies by @TheVijayMallya, MEA revokes his passport under S.10(3)(c) & (h) of Passports Act .”

The ministry is also consulting the legal experts on his deportation because his stay in the UK is now illegal. Mr Mallya can appeal the passport office or move the High Court or the Supreme Court challenging the revocation. Alternatively, he could also seek permission to stay in the UK from British courts there.

After the Enforcement Directorate asked the government to organize Mr Mallya’s deportation at earliest possible way, the government had said it would ensure that he is brought home “to face justice”.

Government Sources say the Enforcement Directorate is also considering sending an extradition request, which will have to be decided by a UK court soon.

Mumbai court had issued an arrest warrant for Mr Mallya this week after he failed to appear before investigators looking into the finances of his Kingfisher Airlines, which ceased operating in 2012.

The law enforcement agency’s investigation relates to 900 crores loaned by the state-run IDBI bank in 2009 to Kingfisher Airlines, despite knowing conceously that it was suffering financial troubles — leading the bank to sustain huge losses. The Enforcement Directorate has accused him of siphoning off money from Kingfisher to buy property abroad — a claim he has denied.

Mr Mallya inherited United Breweries Group (UBG) from his father at the age of 28 and turned it into one of the world’s largest spirit makers.

His profile rose further when he acquired a stake in the Force India F1 team and ownership of the Royal Challengers Bangalore cricket team. He also purchased the Tipu Sultan Sowrd with a eye catching price in a overseas acution, was also a high point in his fame.

Earlier this month, banks rejected his offer to repay $600 million and told the Supreme Court they want him to return to India so they can negotiate with him personally over the total owed.

Vijay Mallya is an Indian businessman and politician. The son of businessman Vittal Mallya, he is the ex-chairman of United Spirits Ltd, the largest spirits company in India
 
Born: December 18, 1955 (age 60), Bantwal
Spouse: Rekha Mallya (m. 1993)
Political party: Independent politician
Children: Siddharth Mallya, Laila Mallya, Tanya Mallya, Leanna Mallya
Parents: Vittal Mallya, Lalitha Ramaiah
Organization founded: Kingfisher Airlines