Scotland Yard arrests Vijay Mallya; India’s banks awaits the liquor baron
 Source : News Bharati English  Date : 18-Apr-2017

London, April 18: The UK’s metropolitan police issued the following statement on Tuesday, confirming the arrest of liquor baron Vijay Mallya. He is likely to be extradited back to India soon. Mallya is has been a ‘Wanted’ person for a very long time for several economic cases, mainly for defaulting a loan worth Rs 9,000 crore. Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud.
He left India on March 3, 2016 and now has been held in UK. He is expected to be produced before the Magistrate Court in Westminster. The Indian government has earlier requested UK Prime Minister Theresa May to extradite Vijay Mallya.

Furthermore, extradition is often a complicated process, since the UK has a complex legal system. First, the judge must be satisfied that the offence Mallya has been accused of committing in India would be considered a criminal offence in the UK too. It must also be determined that none of the statutory bars to extradition apply in this case. Only then, he will be brought back to India for further legal actions.

A special court for Prevention of Money Laundering Act cases in April 2016 has issued a non-bailable warrant against him. In January, 2017, CBI court has issued another non-bailable warrant against Mallya in relation to the Rs 720 crore IDBI loan default case.

Recently, Vijay Mallya’s Kingfisher villa was sold to actor-businessman Sachin Joshi in whopping Rs 73 crore.