Lunes, 23 Octubre, 2017

Indian tycoon Vijay Mallya arrested in London on extradition warrant

Mallya whose now-defunct Kingfisher Airlines allegedly owes more than Rs 9,000 crore to various banks had fled India Mallya whose now-defunct Kingfisher Airlines allegedly owes more than Rs 9,000 crore to various banks had fled India
Malita Javier | 27 Abril, 2017, 11:22

The government is assessing how to bring Vijay Mallya back to India and start judicial proceedings against him, Union Minister Santosh Gangwar said today on a day when the defaulter businessman was arrested in London and released later on bail.

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

A formal extradition request was initially made on February 8 and authorities in India stated that they had a "legitimate case" against Mallya.

Vijay Mallya, the Indian tycoon who called himself the King of Good Times, was arrested in London on Tuesday, having fled his home country more than a year ago under an avalanche of unpaid bills and allegations of fraud.

Metropolitan Police officers arrested Mallya, 61, [yesterday] on behalf of Indian authorities after he attended a London police station, Scotland Yard confirmed.

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Mallya, who denies fraud, played down his arrest, writing on social media that the extradition hearing had started "as expected", calling reaction in his homeland "usual Indian media hype".

Liquor baron appeared before the Westminster's Magistrates' Court in London for his bail hearing and was released on a conditional bail. Later Westminster Magistrates Court granted him bail on a 650,000 pound bond.

A CBI team will leave for the U.K.to pursue the extradition request in coordination with the Indian High Commission.

A day after brief arrest of liquor baron Vijay Mallya, wanted in India for defaulting on over Rs 8,000 crore in bank loans, the Enforcement Directorate (ED) has chose to visit the United Kingdom.

The Enforcement Directorate in March and April 2016 issued a number of summons against Mallya to appear before it but he failed to do so.

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India's Enforcement Directorate asked a court in New Delhi previous year to demand Mallya's presence during proceedings. In reply to a tweet, Mallya said the case has to be decided on merits and evidence.

A team of Indian officials will soon be leaving for the United Kingdom to tie any loose ends to ensure speedy extradition of liquor baron Mallya in connection with the IDBI loan default case.

The arrest comes weeks after Indian Finance Minister Arun Jaitley had indicated that Mallya's extradition would feature in his talks during his visit to the UK.

The judge also has to consider whether the person could face capital punishment if extradited and whether an extradition would be a violation of his or her human rights.

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