New Delhi: Absconding liquor baron and accused of defaulting on loans worth crores Vijay Mallya was arrested in London on Tuesday.
Mallya held by UK police to be produced before a court in Westminster and likely to be extradited to India soon.
The Ministry of External Affairs (MEA) had last month informed that extradition of absconding liquor Baron Vijay Mallya has been stratified by Secretary of State of the UK Government and soon a warrant would be released against him.
Earlier in March, the Supreme Court had fast-tracked the proceedings against Mallya and reserved its order on contempt proceedings against him for allegedly diverting $40 million to his children’s accounts in foreign banks in violation of court orders.
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).