It is a significant achievement for continuing the war against economic fugitives, an elated CBI said on Monday's verdict of a UK High Court rejecting the appeal of embattled liquor baron Vijay Mallya who had sought an order against his extradition to India.
Mallya had escaped from the country after allegations of bank fraud were levelled against him for causing losses up to nearly Rs 9,000 crore to banks.
"It is a significant achievement in continuing war against economic fugitives who have been managing to stay away from the judicial process in the country," CBI spokesperson RK Gaur said.
He said it also validates the "painstaking and meticulous" investigation done by the Central Bureau of Investigation (CBI).
Mallya on Monday lost a UK High Court appeal against his extradition.
The dismissal of the appeal by the High Court came as a major achievement for the agency which has been tirelessly pursuing his extradition from the UK. The then Head of Special Investigation Team of the CBI Rakesh Asthana has been regularly attending the London hearings.
The ruling by the High Court gives 64-year-old Mallya, who is on bail, 14-days to approach the UK Supreme Court.
If he does not file an appeal before the UK's top court, he would be sent to India in accordance with provisions of the India-UK Extradition Treaty.