UK home secretary Sajid Javid approved the extradition of liquor-baron Vijay Mallya, who is wanted in India on charges of fraud and money laundering amounting to around Rs 9,000 crore.
"On 3 February the secretary of state, having carefully considered all relevant matters, signed the order for Vijay Mallya's extradition to India," UK home office said in a statement.
"Mallya has 14 days from today (February 3) to apply for leave to appeal," it said.
India wants Mallya to be extradited from Britain to face fraud charges resulting from the collapse of his defunct Kingfisher Airlines.
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 which went into administration in July, has denied any wrongdoing and says the case against him is politically motivated.
The government has taken note of the decision of the UK home secretary to sign on the order for Vijay Mallya's extradition to India, sources told CNBC-TV18.
"We await early completion of the legal process for his extradition," the sources said, adding that Mallya's extradition may still take time.
In December 2018,
Westminster Magistrates' Court chief magistrate Judge Emma Arbuthnot had ordered the extradition of the businessman to India.
Extradition of Mallya would be a huge win for Prime Minister Narendra Modi months before an election, after opposition parties said the government had given a "free passage" to the business tycoon to flee, an accusation it denies.
On Friday, Mallya claimed his group's properties worth over Rs 13,000 crore have been attached, more than the 'claimed' Rs 9,000 crore that he "ran away with" asking where is justice and how far will it go.
In a series of tweets, Mallya, also claimed that the banks to which he owes money "have given an open licence to their Lawyers in England to pursue multiple frivolous litigations against" him questioning the "brazen" spending of "public money on legal fees".
"Every morning I wake up to yet another attachment by the DRT (debt recovery tribunal) recovery officer. Value already crossed (Rs) 13,000 crore. Banks claim dues including all interest of (Rs) 9,000 crore which is subject to review. How far will this go and well beyond? Justified??", Mallya tweeted.
Mallya has been on bail since his arrest on an extradition warrant in April 2017.
According to reports, Mallya will be lodged in one of the high-security barracks located in a two-storey building inside the prison complex, which also housed 26/11 Mumbai attack terrorist Mohammad Ajmal Kasab, a prison official said.
In case of a medical emergency, Mallya can be treated at the dispensary located close to the barrack, where doctors and other staff are present to provide basic treatment to prisoners, a prisoner official had said.The official said adequate medical facilities were available to treat prisoners in Arthur Road Jail, where Mallya would get full security cover as an undertrial prisoner and it was highly secured in accordance with international standards.