Belfast Telegraph

Indian government to ask Britain to extradite tycoon on money laundering charges

The Indian government will ask Britain to extradite business tycoon Vijay Mallya to face charges of money laundering and bank demands that he pay back more than a billion dollars in loans.

Finance minister Arun Jaitley said on Wednesday that India would begin extradition proceedings once official charges were filed against the businessman.

He added that the UK could not deport Mr Mallya immediately because he entered the country on a valid passport in March, though India revoked it a month later.

India's Enforcement Directorate is gathering evidence as part of its investigation into the tycoon's debts, totalling £977 million, linked to Mr Mallya's now defunct airline Kingfisher.

Mr Mallya sold off his drinks firm United Spirits to Diageo in 2013 in order to prop up the airline, which went bust shortly after.

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