Indian tycoon Vijay Mallya arrested in London over billion-dollar debt

Elizabeth Williams
April 22, 2017

Mallya came to the United Kingdom last March after banks began attempts to recover about $1.4bn (£1.1bn) which Indian authorities have said Kingfisher owes.

The extradition process starts with the judge deciding on whether to issue a warrant of arrest.

The Indian Central Bureau of Investigation said a request for Mr. Mallya's extradition was sent to Britain on February 8.

Proclaimed offender industrialist Vijay Mallya was arrested in London by Scotland Yard on India's request for his extradition.

In a major development for the Indian Government, Mallya was arrested by the Scotland Yard in London on extradition request.

The 61-year-old appeared before Westminster Magistrates' Court later on Tuesday. "I think there's a hunger in Indian public opinion to see such people in prison", the source said here.

Mallya attended just one of 21 races previous year, the British Grand Prix at Silverstone, and watched the rest from a "control room" in his country mansion.

India handed over a formal note verbale seeking extradition on February 8 to the British high commission.

Soon after getting the bail, the industrialist tweeted, "Usual Indian media hype".

On Twitter he dismissed excitement surrounding his arrest as "expected" before an extradition hearing.

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 CBI Director Anil Sinha said the arrest of Vijay Mallya was a "success" of law enforcement agencies and that efforts to bring him back would "fructify". He left India in March 2016. However, he was granted bail within three hours of his arrest. "But after only a 10-minute hearing at the Westminster Magistrates" Court, he was granted bail.

An Indian business tycoon wanted in his home country over fraud allegations has been bailed after appearing in court.

This case relates to the loan default of Rs 9,000 crore.

The Indian businessman has been pursued by authorities over unpaid loans tied to his defunct Kingfisher Airlines.

Other reports by VgToday

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