Supreme Court of India
Introduction
Kingfisher Airlines was launched in 2005 with the goal of providing a luxurious flying experience. Vijay Mallya, a well-known businessman and owner of the Kingfisher beer brand, wanted to create an airline that stood out from the rest. Also a former Rajya Sabha member, Mallya is the ex-chairman of United Spirits. He currently continues to serve as chairman of United Breweries Group. Previously, he also served as chairman of Sanofi India and Bayer CropScience, among other companies. However, most other businesses of the group were not as successful, Kingfisher Airlines being the biggest failure. Numerous Kingfisher Airlines employees were not paid their salary for upto 10 months. Mallya left the country on March 2, 2016, the day a clutch of public-sector banks moved the Debt Recovery Tribunal against him. In January 2019, he was declared a fugitive economic offender under the Fugitive Economic Offenders Act.
Agenda
This agenda emphasizes the critical role of the Supreme Court of India in adjudicating high-profile cases of financial fraud and ensuring justice is delivered to those affected. In this committee, we will be considering the hypothetical scenario where Mallya has been extradited to India in October 2016 as a result of the accelerated extradition appeal filed by the Indian Ministry of External Affairs. The committee will deliberate on this appeal, assuming the case is fast-tracked to the Supreme Court of India. This session will focus on the legal accountability of Vijay Mallya for fraud, money laundering, and financial crimes linked to Kingfisher Airlines, including the diversion of funds and misuse of loans amounting to ₹9,000 crore. It will examine the role of Indian banks in granting these loans, the investigative findings of agencies like the CBI and ED. By addressing these issues, this session of the Supreme Court seeks to restore faith in India’s judicial and financial systems, reinforce the importance of transparency and accountability