"Based on the documents and statements by the concerned agencies and high-quality investigations into the case, we have not faced any difficulties in the above case. Today, the court has dismissed Vijay Mallya's appeal against his extradition to India," CBI sources told .
The High Court in London has rejected an appeal by embattled liquor tycoon Vijay Mallya to overturn a decision to extradite him to India to face charges of defrauding a consortium of Indian banks of more than Rs 9,000 crore.
The decision - by the UK's second-highest court - effectively means that Mallya's options for fighting his extradition are nearly exhausted and he faces the prospect of being sent back to Mumbai to face a slew of charges resulting from the collapse of Kingfisher Airlines in 2012.
"Misrepresentations made to the IDBI bank to induce the said bank to sanction and disburse loans of Rs. 150 Crore on 07.10.2009, Rs. 200 Crore on 04.11.2009 and Rs. 750 Crore on 03.12.2009. These included dishonest and deliberate misrepresentations and concealment of the brand value of Kingfisher Airlines Ltd., inflation of the security value, false promises of equity infusion and future rosy projections, among others," said CBI in a statement.
The statement added: "Dishonest use of the loans so sanctioned and disbursed by IDBI bank and diversion thereof against the terms of sanction."
"Mallya now has 14 days to seek permission to appeal the High Court's decision to the UK Supreme Court. The High Court will decide it on the grounds of merit. After that matter will go to the UK Home Department for an extradition process," said CBI sources.
Sources told, "Mallya can appeal into the European Court of Human Rights (ECHR) on the grounds that he has not been given a chance of fair trial under article 3 of the ECHR."
"CBI acknowledges the efforts made by the counsels of Crown Prosecution service in forcefully presenting the Indian government case and also the efforts of various governments, agencies, especially officers of High Commission of India, London, Ministry of Home Affairs and Prisons Department of Government of Maharashtra in coordinating the extradition trial, timely submission of evidence and assurances and prompt follow up of the case at all stages," said CBI.
( With inputs from ANI )