The good times might soon be coming to an end for Vijay Mallya as the Indian drinks tycoon was rearrested in London. He is wanted in India for committing fraud. He was produced at Westminster Magistrates’ Court after India submitted new charges against Mallya.
Mallya left India in March 2016 when he was more than $1 billion in debt after failing to pay bank loan payments. He is currently out on bail. India’s Central Bureau of Investigation is looking into Mallya’s case along with the Enforcement Directorate which is tasked with handling financial crimes.
He was earlier arrested in April after India demanded his extradition in February but was subsequently released on bail. Mallya told the court that he is not running from the law in India and that he chooses to be in London because he is happy to live here.
Mallya made his millions from Kingfisher beer and his extravagant lifestyle got a whole lot bigger when he invested in purchasing the Royal Challengers Bangalore IPL team and the Sahara Force India F1 Team.
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