Mallya Arrest: Legal Process for Extradition Underway, Says Govt
- Author: Eleanor Harrison Apr 19, 2017,
Apr 19, 2017, 1:39
"Officers from the Metropolitan Police's Extradition Unit this morning arrested a man on an extradition warrant".
Authorities in India are chasing Mallya for around £900million they claim he owes in the wake of the collapse of one of his former businesses, Kingfisher Airlines, in 2013.
New Delhi has revoked Mallya's passport and formally sought his extradition from the British government a year ago.
Mallya has been charged with cheating and conspiracy by the CBI that filed a 1,000-page chargesheet against him for defaulting on a 9000 crore loan taken from the IDBI bank in 2009.
Force India co-owner Vijay Mallya, wanted in his home country over fraud allegations, has been bailed after appearing in court. The Indian investigation agency (CBI) said that it's a great win for efforts to bring Mallya to Justice.
On the other hand, the Times of India (TOI) reported while giving more details that Mallya was arrested by Scotland Yard on an extradition warrant and he would be produced before the Westminster Magistrates' Court later today.
Soon after he was bailed out, Mallya tweeted raising yet another offensive against Indian media, calling all the reports on his arrest as 'over-hype'.
The arrest comes weeks after Indian Finance Minister Arun Jaitley had indicated that Mallya's extradition would feature in his talks during his visit to the UK.
The law has finally caught up with Indian tycoon Vijay Mallya.
Vijay Mallya, the business tycoon and owner of Kingfisher company left India a year ago amid attempts by a group of banks to recover the unpaid loans.
Mallya's arrest comes barely weeks after United Kingdom had set in motion the process of extradition of the industrialist, who has been declared a proclaimed offender.
Recently, after three unsuccessful attempts, banks have finally managed to sell the famous Kingfisher Villa owned by Vijay Mallya to actor-businessman Sachiin Joshi. Under this process, the accused person has right to go higher courts to defend himself against any charge.