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Indian tycoon Mallya to be extradited on fraud charges

LONDON: Indian tycoon Vijay Mallya should be extradited from Britain to India to face fraud charges resulting from the collapse of his defunct Kingfisher Airlines, a London court ruled on Monday. India wants to bring criminal action against Mallya, 62, whose business interests have ranged from aviation to liquor, over $1.4 billion in loans Kingfisher took out from Indian banks which the authorities argue he had no intention of repaying. Mallya, who co-owned the Formula One motor racing team Force India until it went…