Vijay Mallya was released on bail by a London court a few hours later. Despite the massive loans he had accumulated, the man who called himself "the king of good times" continued to lead a lavish lifestyle and was as much in the news for his flashy parties as his debts, prompting huge public anger. The magistrate carried out several steps: ensured the arrested is the person named on the warrant, fixed a date for the start of the extradition hearing on May 17, which is within 21days of the date of arrest, informed Mallya of the contents of the European Arrest Warrant and explained that he could consent to surrender. But the business baron played down the arrest.
Government sources today acknowledged that Vijay Mallya's extradition, if it happens, could take an indefinitely long time, speaking after the initial euphoria over the industrialist's arrest in London. "The government will produce some more evidence against Mallya and he will be extradited", a top official told BusinessLine requesting anonymity.
The court issued some stringent orders against Mallya before granting him bail, instructing "neither he can apply for travel documents nor attempt to leave the UK".
Mallya, 61, secretly fled India in March a year ago, owing more than US$1 billion (S$1.4 billion) after defaulting on loan payments to state-owned banks and allegedly misusing the funds.
"Usual Indian media hype".
India would not only need robust evidence against the liquor baron but also need to prove all the criminal charges against him from scratch.
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A court in January ordered a consortium of banks to start the process of recovering loans from the tycoon.
The TOI report quoted Mallya's counsel in Mumbai, Amit Desai who said the proceedings may last a total of six months to a year before the United Kingdom court decides whether to send Mallya back or not.
The flashy businessman has become a poster boy for defaults on massive loans piled up by corporate tycoons and for a cozy nexus that many say has existed in India between businessmen and politicians.
It can also be prohibited if there are no so-called speciality arrangements with the requesting country-"speciality" requires that the person must be dealt with in the requesting state only for the offences for which they have been extradited (except in certain limited circumstances).
Congress spokesperson Randeep Singh Surjewala said, "Why did the BJP government not move for Mallya's deportation instead of extradition?" It was pointed out to BM that a minimum of 10 hearings might be required for the primary court at Westminster to arrive at a conclusion and then pave for further legal options of appeal and counter appeal before the English courts. However, Mallya has held a British residency card since 1992 and is therefore living legally in that country, where he owns multiple homes.