The investigating agencies are doing their best to ensure extradition of liquor baron and business tycoon, Vijay Mallya, said Finance Minister Arun Jaitley.

Mallya, was arrested in London yesterday, and later released on bail.

The minister told the reporters that, “I think the government and all the investigating agencies are certainly putting (in) their best efforts because the agencies do believe that an offence has been committed for which the person (Mallya) is required in India.”

The extradition of Mallya, is part of the judicial process in the UK, which functions on certain considerations, said Jaitley, in response to queries regarding Mallya's extradition.

The Scotland Yard police in London, arrested Mallya, on India’s request for his extradition on fraud charges. The Indian courts declared Mallya, a proclaimed offender. Mallya, however, was released on bail a few hours later, on a bail bond worth 6,50,000 pound. On May 17, Mallya, is  required to appear at the Westminster Magistrates' Court. The liquor baron, has to face charges in Indian courts, in connection with the loan default cases. Mallya, the owner of Kingfisher Airlines and Formula One team, owes over Rs 9,000 crore to various banks. He left India on March 2, 2016.

Since then, the Indian government revoked his Indian passport, but he has repeatedly dismissed all charges against him. In January, an Indian court ordered a consortium of lenders to start the process of recovering the loans. As per the Extradition Treaty between India and the UK through a note verbale on February 8, India had placed a formal extradition request for Mallya. Earlier, in January this year, a Central Bureau of Investigation (CBI) court, issued a non-bailable warrant against Mallya in the Rs 720-crore IDBI Bank loan default case.

India had asserted that it has a “legitimate” case against Mallya and maintained that if an extradition request is honored, it would show British “sensitivity towards our concerns.”

Liquor Baron Vijay Mallya Arrested By Scotland Police In London

By Supraja