Vijay Mallya arrested in London
Apr 18, 2017-
Embattled business mogul and loan defaulter Vijay Mallya was arrested by Scotland Yard in London on Tuesday. He will be presented before a court in Westminster.
Earlier in February, the government had handed over a formal request for the fugitive industrialist's extradition to the UK High Commission, saying it had a legitimate case against him in on charges of financial irregularities and loan default.
Mallya fled to Britain in March 2016 after being pursued in courts by banks seeking to recover about Rs 9,000 crore owed by his Kingfisher Airline. Despite multiple injunctions, he has failed to appear before investigators at the Enforcement Directorate in connection with a probe under the Prevention of Money Laundering Act (PMLA).
A special court for Prevention of Money Laundering Act cases in April 2016 had issued an NBW against Mallya. In January 2017, a CBI had also court issued an NBW against the beleaguered liquor baron in an IDBI loan default case.
Published: 18-04-2017 16:00