The Vijay Mallya saga keeps throwing up new twists and turns every hour. News from London threw shockwaves across the international media, as liquor baron Vijay Mallya was arrested for the second time by the Enforcement Directorate in connection to a loan default case to the tune of 9000 crores.
With Mallya being arrested for the second time in UK, following India’s extradition request in April, the development is seen as a major victory for the Indian government. Just when it seemed that the case would finally be coming to a close and justice being carried out, a new twist was thrown at, as Mallya was granted bail shortly after his arrest. He was granted bail moments after being produced before the Westminster Magistrates’ Court. According to the law of the land, the arrest order was procedural and a bail order was in place for Mallya.
Having been arrested earlier in April, the absconding liquor baron was taken in custody in London in connection to a money laundering case today. The fugitive businessman has been arrested in a second money laundering case filed by the Enforcement Directorate (ED), the UK’s Crown Prosecution Service (CPS) said.
Mallya owes as much as Rs 9,000 crore to Indian banks and had fled the country ever since an arrest warrant was issued in his name regarding the same. The fugitive had fled to UK last year in March and is currently living in London where he has been out on bail since Scotland Yard released him after an arrest on April 18 this year.
Mallya has always refuted to allegations levelled against him by investigation agencies. He diverted most of the Rs 6,000 crore borrowed from a State Bank of India-led consortium of lenders as fabricated and baseless and has time and time again challenged the Indian government to arrest him and take the money from him, calling the chargesheet a joke and big farce.