In March 2016, the ED had registered a complaint under the Prevention of Money Laundering Act (PMLA) against KFA in the IDBI bank loan case. Mallya is reportedly being chased by authorities for over a billion dollars he owes to banks from his failed Kingfisher Airlines company.
Fugitive liquor baron Vijay Mallya, whom India wants extradited for facing trial in a Rs 9,000-crore bank loan default case, on Tuesday claimed that he has not diverted any of the borrowed money to the team he owned in the IPL and asked reporters to "keep dreaming about the billions of pounds" that he had allegedly diverted. He also added, "I have not eluded any court..." It says Mallya received payment of United States dollars 40 million from Diageo Plc on February 25, 2016.
Arrested by Scotland Yard in April, Mallya is now out on bail.
Last week, Mallya was welcomed with chants of "chor, chor" ("thief, thief)" by Indian cricket fans as he arrived to watch the India vs South Africa Champions Trophy match at The Oval cricket ground in London.
Mallya, while attending his extradition hearing at a United Kingdom court on Tuesday, June 13, had told reporters outside the court premises: "I have nothing to say". The delay in providing evidence is expected to take the next hearing to next year.
The exact date of the hearing will be discussed again at "a case management hearing" on 6 July.
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Westminster Magistrates' Court on Tuesday heard Mallya's case and Chief Magistrate Emma Louise Arbuthnot granted bail to him until 4 December.
The CPS had met a joint team of Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) officials in London last month to thrash out details of the case.
After coming out of the court, Mallya said it was his lawful duty to be there and that he will make his submission before the appropriate court.
United Kingdom court expressed surprise that India has not provided evidence to extradite Vijay Mallya to the country.
In September 2016, a Mumbai court issued an NBW against Mallya and in another related development a court had asked the Ministry of External Affairs (MEA) a year ago to initiate extradition formalities against Mallya after it emerged that Mallya and his Kingfisher Airline defaulted to service tax worth Rs 100 core despite collecting the said amount from passengers.
Mallya has had run-ins with the media previously as well.