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`Forced exile' makes Vijay Mallya invulnerable to Indian law

Fri, Apr 29, 2016, 11:45 AM
Even as India has sought extradition of Kingfisher Arilines chief Vijay Mallya, the loan defaulter is enjoying himself in his five-acre estate near London and has no plans to return to India to appear before the enforcement authorities because he was made to leave India as `a forced exile,' Financial Times reported.

Vijay Mallya said he wanted a `reasonable' settlement, meaning the consortium of banks which gave unsecured loans to him would have to be happy with what he offered them. He sought to give Rs 4000 crore and an additional Rs 2000 crore if he won a court settlement as against the Rs 9000 crore he owed to the Indian banks.

The `forced exile' in London is not an unpleasant poroposition because former IPL chief Lalit Modi, who is also under the money-laundering scanner, is already there. Besides, the British give long rope to whoever could invest a certain huge amount as investment. They can also get court support under the British law.

The `forced exile' is already an entitlement to escape the much-delayed Indian law.

Significantly, Vijay Mallya told the newspaper, `By taking my passport or arresting me, they are not getting any money.' This is a Mallya reminder to the Indian authorities that by letting him go by turning a blind eye, they have blundered.
Agency: Ap7am Desk

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