Loan Defaulter Vijay Mallya arrested in London, gets Bail
Breaking! Beleaguered businessman Vijay Mallya, who has been facing the heat from all quarters in connection with loan fraud cases, has finally been arrested by the New Scotland Yard Police in London.
Mallya was produced in the court later. He was granted bail by the Westminster Court.
Mallya is wanted in India for defaulting loans worth Rs 9,000 crore. He was declared a wilful defaulter.
Mallya had left India on March 2, 2016 and did not return despite several summons from the court and other relevant authorities. As the extradition process remains very complicated and complex, it’s not immediately known how long it would take to bring Mallya back to India.
The onus lies on Indian authorities to convince the court that Vijay Mallya has committed a criminal offence in India.