The fate of a flamboyant airline and brewing tycoon who has been holed up in Britain despite being wanted in India over money-laundering allegations is set to be decided tomorrow after an extradition battle that has strained diplomatic ties between the two countries. Vijay Mallya, who has been described as “the King of Good Times” and India’s answer to Sir Richard Branson, flew to the UK more than 2½ years ago, allegedly owing banks in his native India almost £1bn in unpaid loans. The Indian authorities have been seeking Mallya’s extradition after financial investigators accused him of siphoning off millions from the loans to buy properties overseas. The money had been intended to prop up his now-defunct Kingfisher Airlines company. Mallya, 62, strongly rejects any…

Source: The Times December 09, 2018 00:11 UTC