now, kingfisher airlines became defunct in 2012.ed of diverting some of those funds for personal use. he denies that completely, he says not a ruby was misused and he says he has been targeted for his very public persona and for political reasons here in india —— rupee. now let's brief you some other business stories: china's economic growth probably accelerated to 6.9% in 2017, premier li keqiang has told a regional summit in cambodia. that would be an improvement on the 6.7% seen in 2016, which was the weakest in 26 years. mr li said china has done well because it refrained from flooding the economy with stimulus, while pushing ahead with reforms. the value of bitcoin has fallen more than 10% on the bitstamp exchange, after south korea's justice minister said the country is preparing a bill to ban trading in cryptocurrencies. bitcoin sank as low as $13,120, it weakest since the beginning of january. uk prime minister theresa may will pledge later to eliminate avoidable plastic waste within 25 years. supermarkets will be urged to i

ba nksy now—defunct kingfisher airlines.took loa ns banksy or say that the airline took loans of $1.1! billion and defaulted on them, and vijay mallya is personally accused of using some of that money for personal use. banks here are struggling with bad debt, so here are struggling with bad debt, so vijay mallya has really become a poster child for the indian government going had and dealing with this issue. but they also have a lot of allegations against him and many of his businesses, so that is why the indian government is really trying to get extradited back, and thatis trying to get extradited back, and that is what this trial is all about. suranjana, thank you very much for that update. let's check in with the financial markets. the new year rally has finally petered out over concerns about rising us protectionism. japan's nikkei down by a third of 1%, tech shares leading the decline with samsung down 1.4%. australia's all 0rdinaries index fell, following on from losses on wall street. the hang seng hanging onto positi

, the fugitive tycoon has co— ownership of formula 1 force india race team and he also owns kingfisher airlinesen grounded since 2012. let‘s go to mumbai. what is this case all about? well, rico, vijay mallya is a wanted man in india and ever since he left india for the uk in 2016, the indian government has really ramped up its efforts to get him extradited back to india to face trial for financial crimes. vijay mallya‘s known for being a very fla m boya nt mallya‘s known for being a very flamboyant businessman, this business interests ranged from airlines to alcohol and he co— owned the formula 1 team. he was once dubbed the richard branson of india but this companies owe a lot of muqqy but this companies owe a lot of muggy to indian banks. the indian government is trying to get back around 1.4 $1.4 billion from his companies. he said he is subject to a witch—hunt and the extradition trial is politically motivated and he denies all the allegations. trial is politically motivated and he denies all the allegationsm seems like the indian government is singling out vijay mallya, is this true? vija