London, May 14: In a major setback to fugitive Indian businessman Vijay Mallya, the High Court of England and Wales on Thursday dismissed his application to file an appeal against his extradition in the UK's Supreme Court. The dismissal of the appeal by the UK's High Court has cleared the way for Vijay Mallya's extradition to India. Mallya, who is staying abroad for the last four years, is not willing to return to India to face charges.

After losing his case in the London High Court against his extradition to India, Mallya sought permission to file an appeal in the UK Supreme Court. However, his application was rejected. He allegedly owes more than Rs 9,000 crore to 13 Indian banks. The Westminster Magistrates' Court had ordered his extradition to India to face charges of fraud linked to unpaid loans to his defunct Kingfisher Airlines.

Earlier today, Mallya again urged the Indian government to unconditionally accept his offer of bank loan repayment and close the case against him. While congratulating the Indian government over the Rs 20 lakh crore economic package, he tweeted: "They can print as much currency as they want BUT should a small contributor like me who offers 100 per cent payback of state-owned bank loans be constantly ignored? Please take my money unconditionally and close."

On March 31, Mallya had reiterated his offer to return the money he owed to a consortium of Indian banks, and sought Centre's help. The ED has attached many properties of Mallya in the last few years under the Prevention of Money Laundering Act. Mallya is being investigated by the CBI and the Enforcement Directorate in connection with the loan fraud case. He was arrested by the UK authorities on April 20, 2017, on the request of the Indian investigative agencies.

(The above story first appeared on LatestLY on May 14, 2020 04:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website