"I am naturally disappointed with the High Court decision. I will continue to pursue further legal remedies as advised by my lawyers. I am also disappointed with the media narrative which states that I must face trial in India for a fraud of Rs 9000 crores," Mallya tweeted, hours after the ruling.
"The Banks have already recovered in cash a sum of Rs 2500 crores which is 50 per cent of the Principal amount. I have repeatedly offered to repay the Banks in full but, sadly to no avail," he added.
The High Court has rejected an appeal by Mallya to overturn a decision to extradite him to India to face charges of defrauding a consortium of Indian banks of more than Rs 9,000 crore.
The decision - by the UK's second-highest court - effectively means that Mallya's options for fighting his extradition are nearly exhausted and he faces the prospect of being sent back to Mumbai to face a slew of charges resulting from the collapse of Kingfisher Airlines in 2012.
( With inputs from ANI )