Vijay Mallya arrested by Scotland Yard in London, gets bail three hours after arrest
India liquor baron Vijay Mallya has been arrested by London police Photograph: (Reuters)
India's liquor baron Vijay Mallya wanted in India for defaulting on a huge loan of Rs 9000 crore was arrested by London's Scotland Yard, reports said. Mallya got bail three hours after being arrested and was back home, reports said.
Usual Indian media hype. Extradition hearing started today as expected, Mallya tweeted as he was released on bail.
Usual Indian media hype. Extradition hearing in Court started today as expected.— Vijay Mallya (@TheVijayMallya) April 18, 2017
"Vijay Mallya, 61, was arrested on behalf of the Indian authorities in relation to accusations of fraud," police said in a statement earlier.
Mallya, whose now-defunct Kingfisher Airlines owes more than Rs 9,000 crore to various banks, had fled India on March 2, 2016. A CBI court had issued a non-bailable warrant against Mallya three months ago in the Rs 720-crore IDBI bank loan default case.
India's CBI team will be leaving for London shortly to extradite him, media reports added. India which has an extradition treaty with the UK had asked Britain in November last year to extradite nearly 60 people from UK, including Mallya, to face trial in the Indian court.
India had applied to Britain to extradite Vijay Mallya to face trial after the liquor and aviation tycoon was charged with conspiracy and fraud over a loan to his defunct Kingfisher Airlines.
India had given a formal extradition request for Mallya as per the Extradition Treaty between India and the UK through a note verbale on February 8.
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".
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.
Mallya, who once branded himself the "King of Good Times" and was known for his extravagant lifestyle, was sacked in February from the board of United Breweries, the company through which he once controlled his business empire.
He made Kingfisher beer a global brand and ran a now-defunct airline with the same name, besides being the owner of an IPL cricket team called Royal Challengers Bangalore and a Formula One team - Force India.
(WION with agency inputs: Reuters, AFP, PTI & other sources)