Mallya, 65, has gone through and exhausted the full legal procedures available to him to fight the Indian government's effort to extradite him to India to face charges of defrauding a consortium of banks of more than a billion dollars in relation to the collapse of Kingfisher Airlines in 2013.
He remains out on bail awaiting the UK Home Secretary Patel formally signing off on the extradition. The Home Office has previously said that the delay in signing off was due to a technicality.
There has been speculation that Mallya has sought asylum in the UK, which can be requested on a number of grounds, from a human rights perspective to political asylum.
At the High Court on Friday, Mallya's lawyer Philip Marshall said: "The extradition was upheld but he (Vijay Mallya) is still here because as you know there is another route for him to apply to the Secretary of State for the status," said Vijay Mallya's barrister Philip Marshall.
The submission was made during Mallya's case at the Companies and Solvency Division of the High Court where he is appealing for substantial funds to be released to him to cover his living expenses as well as the vast legal fees that he has accrued and continues to do so.
Mallya has specifically asked for funds from the sale of a luxury property he owned, located on an island off the French Riviera and amounting to nearly £3 million to be released to him.
The money is held in the UK's Court Funds Office (CFO) as part of bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India (SBI) in lieu of loans that went unpaid by Mallya and Kingfisher Airlines.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.