Business Mogul Vijay Mallya arrested in London

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Embattled business mogul and loan defaulter Vijay Mallya was arrested by Scotland Yard on an extradition warrant on Tuesday. He will be produced before the Westminster Magistrates’ Court later in the day.
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 non-bailable warrant (NBW) against Mallya. In January 2017, a CBI court had also issued an NBW against the beleaguered liquor baron in an IDBI loan default case.

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