Vijay Mallya Arrested In London


London: The Scotland Yard arrested liquor baron Vijay Mallya, who has been declared a proclaimed offender, in London on Tuesday following India’s extradition request.

The 61-year-old industrialist will appear in Westminster Magistrates’ Court in London later on Tuesday.

India had in February requested the UK for the extradition of Mallya as per the Extradition Treaty between the two countries. Mallya is accused of defaulting on bank loans worth 9,000 crores and is facing charges of money laundering.

The business magnate left India for the UK last year amid attempts by banks to recover the loans on which he has defaulted.

India cancelled Mallya’s passport, but his extradition was refused by the UK earlier because under the country’s laws, visitors could stay in the country even if their passports had expired.

Mallya, who launched Kingfisher Airlines which now owes Rs 9,000 crores to banks, has been charged with cheating and conspiracy by the Central Bureau of Investigation (CBI), which filed a 1000-page chargesheet against him. The chargesheet covered one specific case of loan default – a Rs 900 crore loan given to Mallya by IDBI.

The CBI had found that Rs 250 crore of the Rs 900 crore, which was granted to buy aircraft parts, was instead diverted abroad

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