(Image source from: Thehindubusinessline.com)

Vijay Mallya misled Indian banks said UK Court: Liquor baron Vijay Mallya has been absconding from the country after he has been accused of fraudulently obtaining loans from Indian banks. He owes Rs 9000 crores to Indian banks and the investigation is on in London's Westminster magistrate’s court. The first day of extradition trial started on Monday. The trial will take place for eight complete days.

Mark Summers who has been arguing on India's behalf revealed how Mallya's companies used number of loans and used the money for unintended purposes. He explained how Mallya and his companies used various tactics to escape from repaying the money. The money laundering process along with the documents has been presented before the court. Vijay Mallya has been surrounded by a group of Indian journalists outside the court and the absconding liquor baron preferred not to respond about the allegations. Vijay Mallya called the allegations baseless and fake. He also said that he has complete faith in the governance.

(Video Source: NDTV)