Despite ongoing attempts by the Indian government to bring back economic offenders Vijay Mallya and Lalit Modi, who allegedly defrauded Indian banks of thousands of crores, both continue to live a luxurious life in the United Kingdom. Recently, Lalit Modi hosted a grand party at his London residence in Belgrave Square to celebrate Vijay Mallya’s 70th birthday, attended by several prominent personalities. Years after fleeing India, extraditing these high-profile fugitives has proven challenging.
Vijay Mallya, son of noted businessman Vittal Mallya, took charge of the United Breweries Group at age 28 after his father’s death. He expanded the Kingfisher beer brand internationally and launched Kingfisher Airlines in 2005, venturing into aviation alongside interests in real estate, sports, and pharmaceuticals. Despite acquiring Air Deccan in 2008, Kingfisher Airlines faced a financial crisis following the global economic downturn. By 2012, mounting debts and employee strikes led to the cancellation of the airline’s licence, and operations were halted.
Mallya faces allegations of defaulting on loans exceeding Rs 9,000 crore from a consortium of 17 banks led by SBI. Investigations by the CBI and ED claim he diverted funds meant for airline operations to overseas assets and shell companies, including transfers to tax havens in Bermuda, Switzerland, and Singapore. The Supreme Court of India found him guilty of contempt in 2017 for transferring assets to his children without disclosure and sentenced him to four months in jail.
Despite UK courts ordering his extradition in 2018, with appeals rejected in 2020, Mallya remains in the UK. Legal experts cite his political asylum claims as a key hurdle, as British law prevents extradition if a person’s life or human rights are deemed at risk. Mallya maintains that he is not a fraudster, asserts willingness to repay loans, and alleges he is targeted for political reasons.
Lalit Modi: Cricket Mogul in Controversy
Lalit Modi, the architect of the Indian Premier League (IPL), served as its first chairman and as BCCI vice-president. Credited with commercialising cricket on an unprecedented scale, Modi faces allegations of financial irregularities in IPL operations. The ED has accused him of illegally diverting Rs 125 crore through World Sports Group, and the BCCI imposed a lifetime ban for alleged auction irregularities. Modi also faces over 15 cases concerning unlawful overseas fund transfers and foreign exchange violations.
After fleeing to London in 2010, attempts to secure his extradition have been unsuccessful. India’s request for a Red Corner Notice was repeatedly rejected by Interpol, citing insufficient evidence and claims of political motivation. Modi further attempted to acquire citizenship of Vanuatu, which was later revoked following India’s intervention. In UK courts, he maintains that he has committed no wrongdoing and claims he is targeted due to political vendetta, asserting that no charges have been proven against him despite his role in significantly increasing BCCI revenues.
The ongoing legal and diplomatic complexities continue to hinder India’s efforts to repatriate these high-profile economic offenders, highlighting the challenges of cross-border enforcement in financial crime cases.