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India Revokes Business Tycoon Mallya's Passport

FILE - Kingfisher Airlines Chairman Vijay Mallya in Mumbai, India, Nov. 15, 2011.

India has revoked the passport of businessman Vijay Mallya, who left India last month owing more than $1 billion to Indian banks.

The flamboyant tycoon's passport had been suspended last week. He was given a week to explain why his passport should not be revoked.

The Foreign Ministry revoked Mallya's passport Sunday, based on Mallya's reply and evidence from India's Enforcement Directorate, a government agency fighting financial crime.

Mallya's financial hardships began with the downfall of his now-defunct Kingfisher Airlines.

Indian officials say they believe he is in England where he has other business interests.

Authorities say India is considering seeking Mallya's deportation to face money laundering and financial irregularities charges.