Vijay Mallya claims that money laundering and stealing money charges against him are completely false
The CPS has argued that the evidence they have presented establishes "dishonesty" on the part of the businessman and that there are no bars to him being extradited from the UK to face Indian courts.
Vijay Mallya's defence team has deposed a series of expert witnesses to claim he had no "fraudulent" intentions and that he is unlikely to get a fair trial in India.
Last month, after a prolonged period of silence, Mallya had issued a lengthy media statement, labelling the CBI and Enforcement Directorate charges against him as "untenable and blatantly false".
He has since lost his appeal in the UK's Court of Appeal against a High Court order in favour of 13 Indian banks to recover funds amounting to nearly 1.145 billion pounds.
The High Court order in favour of the State Bank of India (SBI) led consortium had reinforced a worldwide freezing order against Mallya's assets.
It was followed by a related enforcement order last month granting permission to the UK High Court Enforcement Officer to enter Mallya's properties in Hertfordshire, near London, where he is based.
Mallya has since said that he has handed over a full statement of his UK assets to the court and there was no question of use of force to enter his home, Ladywalk, in the village of Tewin in England.