Money laundering case: Vijay Mallya arrested in London

Europe

Liquor baron Vijay Mallya has been arrested in London, reported DD News on Tuesday.

Mallya was re-arrested on the basis of the violation of his bail condition. He was earlier arrested by UK authorities and was released on bail on certain undertakings that he had given to the UK court.
Scotland Yard has found certain deficiencies in the investigation being carried out by the Indian agencies, and on the basis of that, Mr Mallya has been arrested.

The former liquor Barron is wanted in India for money laundering and defaulting on loans worth several thousands of crores.

Other cases filed by the CBI and Enforcement Directorate could all be clubbed together, and the extradition case can be fought based on that, the report said.

Mallya fled to Britain in March 2016 after being pursued for recovery of Rs 8,191 crore owed to a consortium of 17 Indian banks by his now defunct Kingfisher Airlines. He was arrested and granted bail in London on April 18 by the Scotland Yard on an extradition warrant.

The Indian government had in February this year, handed over to British authorities a formal request for Mallya's extradition, saying it had a legitimate case against him on charges of financial irregularities and loan default.

Source: timesnownews