Mallya terms the extradition verdict unfortunate

Liquor baron Vijay Mallya on Monday termed as unfortunate the verdict of a London court, which ordered his extradition from the United Kingdom.

The Westminster Magistrates Court's Chief Magistrate Judge Emma Arbuthnot ordered extradition of Mallya after finding merit in the charges of fraud, conspiracy and money laundering registered against him in India.

Mallya is wanted in India for alleged loan default to the tune of Rs 9,000 crore for the now defunct Kingfisher Airlines. The 62-year-old has the option of moving higher courts against the decision. The CBI and the ED will have 14 days to file an appeal.

Mallya, while speaking to the reporters outside the court here said, " It is unfortunate that judge has found a prima facie case, that I made misrepresentation to IDBI bank and swayed them to loan money."

The embattled businessman further asserted that he would further explore all legal options to his comfort.

"The judge told me that it is a long process (extradition), she told me about my rights for bail. She also generously told me that I had a good legal team, who would give me good advice," he said.

"I have comprehensive settlement application in the Karnataka high court, who has kindly agreed to consider the settlement application," he added.

He further underscored that he wishes to pay the now defunct Kingfisher Airlines employees first and said, "paying employees is my priority, as the amount is very small as to what is to be paid to the banks.

When asked if he regrets taking shelter in the United Kingdom, the liquor baron said that he regrets being in the current situation he is in.

"The end of the day that's what the courts are for, that's how lawyers thrive. Do I regret being in a situation where I'm reading legal papers and paying legal fees? Yes, I do. I could have done something more productive with my time," he said.

The matter of Mallya's extradition has now been referred to UK's Secretary of State.

The Central Bureau of Investigation (CBI), which is investigating the charges against him, welcomed the decision.

On Sunday, a joint team of the CBI and the Enforcement Directorate (ED), led by CBI Joint Director A Sai Manohar, left for the UK to attend court proceedings.