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INDIA’S Business tycoon Vijay Mallya, accused of defaulting on loans worth crores of rupees has been arrested in London and will be produced in a metropolitan court today.
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VIJAY MALLYA GRANTED BAIL SOON AFTER ARREST IN LONDON
CBI source said that Mallya was arrested around 9.30 in the morning and it is seen as a big win in attempts to bring the liquor baron to justice.
India had in February asked the UK to extradite Mr Mallya, who is facing charges of money laundering and several arrest warrants in the country.
Last month, the UK told India that its request had been certified by the Secretary of State.
Last week, a Delhi court put out an open-ended non-bailable warrant against the 61-year-old in a case of alleged violation of foreign exchange rules.
Mallya left India a year ago amid attempts by a group of banks to recover around Rs. 9,000 in loans to his collapsed Kingfisher Airlines.
New Delhi had cancelled Mr Mallya’s passport and asked the UK government to deport him to India.
Businessman and loan defaulter Vijay Mallya was today arrested by Scotland Yard on an extradition warrant in United Kindom. He will be presented before the Westminster Magistrates’ Court.
Earlier in February, the Indian government had handed over a formal request for the fugitive industrialist’s extradition to the UK High Commission, saying it had a legitimate case against him in on charges of financial irregularities and loan default.
Mallya fled to Britain in March 2016 after being pursued in courts by banks seeking to recover about Rs 9,000 crore owed by his Kingfisher Airline. Despite multiple injunctions, he has failed to appear before investigators at the Enforcement Directorate in connection with a probe under the Prevention of Money Laundering Act (PMLA).
A special court for Prevention of Money Laundering Act cases in April 2016 had issued an NBW against Mallya. In January 2017, a CBI had also court issued an NBW against the beleaguered liquor baron in an IDBI loan default case.