Vijay Mallya arrested in London by Scotland Yard

NEW DELHI: Business tycoon Vijay Mallya, the boss of the now defunct Kingfisher Airlines, owes Rs 9,081 crore to a consortium of 17 Indian banks, has been arrested in London and will be produced in a metropolitan court today.

The liquor baron was arrested at about 9.30 am London local time and was taken to Westminster court.

Mallya, whose extradition India has been seeking since he fled to the United Kingdom in March 2016, is wanted in various cases of foreign exchange violation and debt recovery.

India had in February asked the UK to extradite Mr Mallya, who is facing charges of money laundering and several warrants in the country. CBI sources count the arrest, which took place around 9.30 in the morning, as a big win in attempts to bring the liquor baron to justice.

Last month, the UK told India that its request had been certified by the Secretary of State.

Mr Mallya has been charged with cheating and conspiracy by the CBI that filed a 1,000-page chargesheet against him for defaulting on a 900-crore loan taken from the IDBI bank in 2009. The CBI probe found that 250 crore of this – given to buy aircraft parts – was diverted abroad.

 

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