Wednesday, 20 September, 2017

Indian business tycoon Vijay Mallya arrested in London

Kingfisher Airlines Chairman Vijay Mallya speaks to the media during a news conference in Mumbai Vijay Mallya Arrested in London Based on India's Extradition Request
Kristopher Love | 20 April, 2017, 07:16

At a preliminary hearing at Westminster Magistrates' Court later on Tuesday, Mallya was released on conditional bail, with the case adjourned until May 17.

However, earlier today, Mallya, while downplaying the din surrounding his sensational arrest in London, took a swipe at the Indian media.

With Mallya owning assets in the United Kingdom, the official said, a bail is not seen as a problem by the courts because it ensure his appearance at the hearings.

The 61-year-old liquor baron, wanted in India for defaulting on loans, was arrested after he appeared at a central London police station this morning.

Recently Mallya created headlines after his Kingfisher Villa in Goa was sold to film production company Viiking Media & Entertainment, which is owned by actor-businessman Sachiin S Joshi after third attempt.

On Twitter he dismissed excitement surrounding his arrest as "expected" before an extradition hearing. Senior officials of Ministry of Home Affairs said soon team comprising External Affairs Ministry, CBI and ED officers would visit London to co-ordinate with the Indian High Commission.

Vijay Mallya was the owner of the now defunct Kingfisher Airlines, which owes over Rs 9000 crore in loans to banks.

"The case (Mallya) is now part of the judicial process in that country (UK) and, as such, will function on judicial considerations", Finance Minister Arun Jaitley told reporters here. The UK had refused to deport Mallya past year after India wanted him to be extradited following his silence on summons by the Indian federal investigating body CBI and Enforcement Directorate. A top source said India is seeking extradition of Mallya for defaulting on loans due to IDBI.

May: UK government takes note of serious allegations against Mallya, suggests request be made under Extradition Treaty (Mutual Legal Assistance Treaty).

Under the 2003 Act, the British secretary of state may only consider four issues when deciding whether to order a person's extradition.

An India-based spokesman for Mallya's UB Group did not comment immediately.

New Delhi had cancelled Mr Mallya's passport and asked the United Kingdom government to deport him to India.