The “King of Good Times” wants to return to India and clean up his name if he promised “a fair trial and a dignified existence,” he said in a podcast recorded in London, where he stayed since leaving India in 2016. “We all know how long it can take a long time in India,” he said. “This is not justice.”
But while the former Baron liqueur has legal means to return to India and to deal with unresolved cases, it will not be smooth landing, lawyers say.
“If Vijay Mallya gets out of the plane in India, the legal chessboard will immediately light up,” said Ketan Mukhija, head of Burgeon Law.
Malllya could voluntarily appear before the court and surrender, giving up his right to ask for bail, including a preliminary deposit, Mukhija said. However, the legal team of Mallya would have to challenge every existing arrest warrant, lookout tower and existent order and added because of the procedural inconsistencies or the absence of new incriminating evidence, Mukhija added.
Article 21 of the Constitution, which guarantees the right to life and personal freedom, including the right to a fair trial, by Ajay Khatalawaly, a leading partner in the legal company Little & Co.
Malllya can also attack the brand of a refugeed economic perpetrator. The brand is declared by the court when the individual accused of serious financial crime, usually including large amounts, either fleeing from the country or refusing to return to the court.
If Malllya decides to return to India and give up, he may file a petition that seeks to cancel a statement of a fired economic perpetrator. However, the Court of Justice will consider this relief only if it is convinced that the return is true and made without the intention of Mala Fide, Khatalawala said.
View the full picture
Vijay Mallya was also former chairman of the United Breweries Group. (Bloomberg)
What Mallya said
The podcast called Stand, organized by Raj Samani, was the first public conversation of Mallly in nine years, claiming that the media did not get a chance of a fair trial. He claimed to be the victim of a media sensation and political sacrifice.
“I’m sorry for one thing, which is that throughout my hard work, all the value I created so many ways that effectively, Indian government and of course the media, made me zero from the hero. And that is the fact of life with which I had to live and live,” he said.
At a very young age, Malllya was “installed in a hot seat” when he became chairman of United Breweries Group based in Bengalur after his father Vittal Mallya in 1983. The eponymous airline, which followed in 2005, was his vision to “produce the best flying experience ever seen by India”.
Air Deccan’s low -cost carrier’s acquisition in 2007 was widely accused of falling Kingfisher Airline. Malllya said that the acquisition was calculated by consolidation and not a means to circumvent the rule required by the airline for five years before it could fly at the international level.
The media made me zero from the hero.
The spiral down came after the global financial crisis in 2008. Mallya said he turned to the then Minister of Finance Pranab Mukherjee with his plan to reduce his airline. Mukherjee asked him not to reduce and promise that the airline would be supported by banks, Mallya claimed. Mukherjee died in 2020.
With increasing fuel costs and the government does not allow foreign investments in the air sector other complicated matters for Kingfisher, Mallya said. It was “an economy, circumstances, a government policy, which then became to create a perfect storm King Fisher could not survive”.
‘Paid more than what was payable’
Malllya in the podcast claimed that while he owed only £6,203 Crore to different banks, the Indian Ministry of Finance showed a revival £14 131.6 crore, which is “more times above”.
“I am not a disease (a thief),” Mallya said, refuel the accusation of escaping from India in March 2016 to avoid Kingfisher Airlines bankruptcy offices and insisted that he was planning to visit Geneva to attend an international conference.
Kingfisher Airlines, founded in October 2012, 7,500 GBP Crore to creditors led by the India State Bank ”> owed more than £7,500 Crore for creditors led by the state bank of India. Airline has accumulated losses £16,023.46 Crore as of March 31, 2013. He was investigated by the Directorate for Pravo (ED), the Central Office for Investigation (CBI) and the Office for Investigation of Serial Fraud (SFIO) for various economic crimes.
But the 15th of the same year the Ministry of Outside was suspended by his passport. At Mally’s podcast, she said he replied to the summons of ED, who demanded more time to talk to his foreign co -workers about the sale of shares and settlement of fees.
Asked why he did not fight harder to restore his passport and return to India, Mallly said he was amazed by the number of legal battles. “How many fronts should I open at once? They are expensive and time -consuming battles.”
View the full picture
In 2005, Vijay Mallya launched Kingfisher Airlines with a vision to “produce the best flying experience ever seen”. (PTI)
Fugital or Fall Guy?
Malllya said he had refuted the accusation of siphiving funds from Kingfisher Airlines £3,000 crore funds United Breweries to the airline to keep it above water. “No one talks about it. If I had to steal, I would promise my own shares and give personal guarantees?” said.
Malllya claimed that banks had doubled the amount he owed to them by selling his assets. “Despite 15 formal requirements, they did not give me an account statement,” he said.
At the podcast, Malllya apologized for non -paying salaries to Kingfisher Airlines employees. He claimed that the attempts to get Karnataka High Court were repeated to be released £260 crore that it has frozen to pay employees’ wages. “Between 2012 and 2015, I offered settlements several times, but everyone was rejected,” Mallya said. “I’m deeply sorry, and I’m taking full responsibility for that.”
Industrian Harsh Goenka spoke at Mallly’s defense. While Malllya lived a “high life” and made on loans, his fees were reportedly resolved, he said.
“Meanwhile, larger defaulters walk free of charge with much thicker hairstyles from banks,” Goenka said on the X -Social Media platform. “If the fees stay, banks should say clearly.
Malllya replied to Goen on x that the Ministry of Finance “in writing has confirmed that banks have recovered £14 100 Crores from me against the judgment of DRT (Tribunal Recovery Tribunal) £6,203 Crores “.
Shiram Subramanian, CEO of Proxy Advisory Company Ingovern doubts, Malllya returns to India because there is no guarantee about what will happen to him.
“It was a punch bag for all big entrepreneurs loans,” Subramanian said. “The cultivated political context, rich parties and hi-profile public image make it a perfect autumn.”
(Tagstotranslate) vijay Malllya
