Liquor Baron Vijay Mallya who has been absconding from India for more than a year.
The businessman, who had fled the country on 2 March and sought refuge in the UK after a lookout notice was issued against him, is wanted in several economic offences cases, including defaulting on loans worth crores of rupees.
In 2016 a consortium of 17 banks moved the Debt Recovery Tribunal to hear a July 2013 petition to recover dues of Rs 9,081 crore, including interest, that was loaned to Mallya’s now defunct Kingfisher Airlines.
On Tuesday all the news channels started flashing, that Vijay Mallya has been arrested.
Scotland Yard read a statement “Officers from the Metropolitan Police’s Extradition Unit have this morning arrested a man on an extraction warrant,” .It also added “Vijay Mallya, 61, was arrested on behalf of the Indian authorities in relation to accusations of fraud.”
Mallya will be presented before the Westminster Magistrates’ Court on April 18. The Central Bureau of Investigation (CBI) from India will then put in a request to extradite Mallya to India.
He was declared a wilful defaulter back home last year and on February 8, India had handed a formal extradition request to the British government to bring back Mallya.
While handing over the request, India had asserted that it has a “legitimate” case against Mallya and maintained that if an extradition request is honoured, it would show British “sensitivity towards our concerns”.
Former Kingfisher boss Vijay Mallya was granted bail within three hours after he was arrested on Tuesday in London.
After this incident Vijay Mallya tweeted on his twitter account “Usual Indian media hype. Extradition hearing in Court started today as expect.
Usual Indian media hype. Extradition hearing in Court started today as expected.
— Vijay Mallya (@TheVijayMallya) April 18, 2017