Banks will have to wait for some more time to settle its outstanding issues with Vijay Mallya but they expect Tuesday's development will put pressure on the liquor baron to cough up money he owes to them.
A team of Indian officials will soon be leaving for the United Kingdom to tie any loose ends to ensure speedy extradition of liquor baron Mallya in connection with the IDBI loan default case. Mallya's arrest has set in motion the extradition process but India will have to wait till the judicial proceedings in the United Kingdom culminates.
The businessman, who owes over Rs 9,400 crore to banks, got bail within three hours of his arrest but officials here said that there is nothing abnormal about it. An arrest prior to extradition hearing is as normal as the bail, a senior official said adding the CBI will now have to convince the court hearing the extradition case about the charges it slapped on Mallya.
With Mallya owning assets in the UK, the official said, a bail is not seen as a problem by the courts because it ensure his appearance at the hearings. A number of steps need to be crossed for the final extradition from the UK. The extradition process starts with the judge deciding on whether to issue a warrant of arrest. If a warrant is issued, the person is arrested and brought before the court for preliminary hearing. This is followed by an extradition hearing following which the final decision is taken by the Secretary of State. The person facing extradition has the right to appeal to higher judiciary, including the Supreme Court there, against the decision.
"We are now assessing the facts as to how we can bring him back into the country and start judicial proceedings against him," Minister of State for Finance Santosh Gangwar said adding no stone will left unturned to bring to justice anyone indulging in financial irregularities. Government had last year admitted that getting people extradited from the UK is an onerous task with continuation of death penalty in India and European Commission's provisions on human rights are acting as hurdles in acceding to these requests.
UK Minister of State for Immigration James Brokenshire had told Minister of State for Home Kiren Rijiju in February 2016 that New Delhi will also have to convince British courts on the pending cases.
A team of Indian officials will soon be leaving for the United Kingdom to tie any loose ends to ensure speedy extradition of liquor baron Mallya in connection with the IDBI loan default case. Mallya's arrest has set in motion the extradition process but India will have to wait till the judicial proceedings in the United Kingdom culminates.
The businessman, who owes over Rs 9,400 crore to banks, got bail within three hours of his arrest but officials here said that there is nothing abnormal about it. An arrest prior to extradition hearing is as normal as the bail, a senior official said adding the CBI will now have to convince the court hearing the extradition case about the charges it slapped on Mallya.
With Mallya owning assets in the UK, the official said, a bail is not seen as a problem by the courts because it ensure his appearance at the hearings. A number of steps need to be crossed for the final extradition from the UK. The extradition process starts with the judge deciding on whether to issue a warrant of arrest. If a warrant is issued, the person is arrested and brought before the court for preliminary hearing. This is followed by an extradition hearing following which the final decision is taken by the Secretary of State. The person facing extradition has the right to appeal to higher judiciary, including the Supreme Court there, against the decision.
"We are now assessing the facts as to how we can bring him back into the country and start judicial proceedings against him," Minister of State for Finance Santosh Gangwar said adding no stone will left unturned to bring to justice anyone indulging in financial irregularities. Government had last year admitted that getting people extradited from the UK is an onerous task with continuation of death penalty in India and European Commission's provisions on human rights are acting as hurdles in acceding to these requests.
UK Minister of State for Immigration James Brokenshire had told Minister of State for Home Kiren Rijiju in February 2016 that New Delhi will also have to convince British courts on the pending cases.
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