The wheels of justice may turn slowly in India, however it appears the final act in the Vijay Mallya/defunct Kingfisher Airlines saga is about to unfold.
Indian news outlets were reporting two years ago that Mallya had not paid staff for several months and even that one committed suicide due to income deprivation.
The Force India team boss now stands accused of fraudulently obtaining loans for Kingfisher Airlines and using the money to buy property abroad – along with defrauding the Indian taxation collection authorities. Mallya has had family property seized in Mumbai and now his passport has been revoked.
The Indian Ministry of External Affairs will now prepare an extradition proposal to be sent to the UK government along with requesting Interpol to list Mallya as wanted.
Vijay Mallya is still believed to own the majority of shares in the Force India team – though these are being held as security by Diageo for monies they claim are outstanding. Another 42.5% of the F1 team is owned by Rubrata Roy who has now been in jail in New Delhi for over two years, having failed to repay investors he defrauded.