Vijay Mallya, the one-time billionaire who co-owns the Force India Formula One team, said on Wednesday that Indian authorities had no grounds to extradite him from Britain and he would not be leaving.
India wants Mallya to face trial after the liquor and aviation tycoon was charged with conspiracy and fraud over a loan to his defunct Kingfisher Airlines. It said this month that it had asked Britain to extradite him.
Mallya, who has a base in London as well as a country home bought from the father of triple world champion Lewis Hamilton, moved to Britain last March after banks sued to recover some $1.4 billion the Indian authorities say is owed by Kingfisher.
He has dismissed the charges against him, saying last month that “not one rupee was misused”. Read More…