Business tycoon and liquor baron, Vijay Mallya has been arrested in London, by the Scotland police, and will be produced in a metropolitan court today.
Mallya, who was declared a proclaimed offender has been arrested on an extradition warrant. He will be appearing in the Westminster Magistrates Court in London.
Earlier, India had requested the UK for the extradition of Mallya, who is accused of defaulting on bank loans worth 9,000 crores and is facing charges of money laundering. Mallya left India for UK, last year, amid attempts by banks, to recover the loans on which he has defaulted.
Though India canceled Mallya’s passport, his extradition was refused by the UK earlier, because under the Country’s laws, visitors can stay in the country, even if their passports had expired.
Mallya, the owner of Kingfisher Airlines, now owes Rs 9,000 crores to banks. The Central Bureau of Investigation, have filed a 1000-page charge sheet against him, on allegations of cheating and conspiracy. The charge sheet covered one specific case of loan default - a Rs 900 crore loan given to Mallya by IDBI.
The CBI had found that out of the Rs 900 crore, which was granted to buy aircraft parts, was instead diverted abroad.
Vijay Mallya's Extradition Certified
By Supraja
