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While handing over the request, India had asserted that it has a "legitimate" case against Mallya and maintained that if an extradition request is honoured, it would show British "sensitivity towards our concerns".
The extradition process from the UK involves a number of steps including a decision by the judge whether to issue a warrant of arrest. In case of a warrant, the person is arrested and brought before the court for preliminary hearing followed by an extradition hearing before a final decision is taken by the secretary of state.
The wanted person has a right to appeal to the higher courts against any decision all the way up to the supreme court.
Earlier in January this year, a CBI court had issued a non-bailable warrant against Mallya in the Rs 720-crore IDBI Bank loan default case.
Mallya, whose now-defunct Kingfisher Airlines owes more than Rs 9,000 crore to various banks, had fled India on March 2, 2016.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)