Vijay Mallya arrives for the opening day of his extradition trial at Westminster Magistrates’ Court in London on Monday morning. Photo: PTINew Delhi/London: UB Group chairman Vijay Mallya has “a case of fraud” allegations to answer, a London court was told on Monday at the start of a two-week hearing on India’s plea for his extradition. Most of the documents and loans mentioned during the proceedings pertained to the State Bank of India and IDBI Bank. The extradition proceedings were based on a charge sheet filed by CBI in January in connection with a Rs900 crore loan default case by Mallya with IDBI Bank. CBI then registered another case against Mallya in August this year, for alleged irregularities in the repayment of Rs 1,600 crore loan taken from the State Bank of India.

Source: Mint December 04, 2017 12:45 UTC