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Mallya's extradition case verdict on Dec 10

London's Westminster Magistrates' Court will pronounce the verdict in the extradition case of liquor baron Vijay Mallya on December 10.

India wants to extradite Mallya, an alleged financial offender, from the United Kingdom to face charges of money laundering and bank fraud, amounting to Rs. 9,000 crore.

Earlier today, Mallya said that he is making an effort to repay loans but banks are not supporting him. "The banks have filed objections in the court on my settlement applications. You should ask them that why they are not supporting me in my efforts to repay them. I obviously don't agree with what the prosecution is alleging. Let the Court decide. I am ready for settlement," Mallya told reporters outside Westminster Magistrates' Court where his extradition case is being heard.

Earlier, Mallya's defence counsel accused the Central Bureau of Investigation (CBI) Special Director Rakesh Asthana of threatening the banks to file cases against his client. The lawyer told the Court, "CBI's Rakesh Asthana threatened banks with 'consequences' if they did not file cases against Mallya." He also claimed that there is no evidence that Mallya or his company Kingfisher has applied for bank loans with any bad intention.

"There is no evidence that Mallya or Kingfisher applied for bank loans with bad intent," Montgomery added.

Meanwhile, prosecution lawyer Marks Summer told the court that the Kingfisher Airlines misrepresented the facts about the performance of the company while applying for loans. "What Vijay Mallya's Kingfisher internally knew was totally different from what it was telling the banks. Kingfisher Airlines misrepresented facts about performance when applying for loans," the prosecution lawyer said.

Mallya has been living in the UK since March 2016.