New Delhi: Liquor baron Vijay Mallya who owes India as much as Rs 9000 crore has been arrested in London on Tuesday.
Scotland Yard attested Mallya at 9:30 AM. Later UK court granted bail to Mallya.
ALSO READ: This actor bought Vijay Mallya’s ‘Kingfisher Villa’
Usual Indian media hype. Extradition hearing in Court started today as expected.
— Vijay Mallya (@TheVijayMallya) April 18, 2017
Business tycoon left India last year amid attempts by a group of banks to recover the unpaid loans.
Here is Scotland Yard’s statement on the arrest of Vijay Mallya:
India in February asked the UK to extradite Mallya.
The flamboyant entrepreneur 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.
Last month, setting in motion the process of extradition of Mallya, the British government had certified India’s request and sent it to a district judge for further action.
The extradition process from the UK involves a number of steps including a decision by the judge whether to issue a warrant of arrest. In the case of a warrant, the person is arrested and brought before the court for preliminary hearing followed by an extradition hearing before a final decision is taken by the secretary of state.
The wanted person has a right to appeal to the higher courts against any decision all the way up to the supreme court.
Earlier in January this year, a CBI court had issued a non-bailable warrant against Mallya in the Rs 720-crore IDBI Bank loan default case.
New Delhi had cancelled Mallya’s passport and asked the UK government to deport him to India.
Mallya has been charged with cheating and conspiracy by the CBI that filed a 1,000-page chargesheet against him for defaulting on a 900-crore loan taken from the IDBI bank in 2009. The CBI probe found that 250 crore of this – given to buy aircraft parts – was diverted abroad.
Here what we said on April 1: Mallya airlifted from London, sleuths make him travel economy class to Delhi