Force India F1 team owner Vijay Mallya arrested in London

Vijay Mallya

Mallya, who is now at Westminster Magistrate's Court has been put under procedural arrest and he is unlikely to stay behind bars for long. Mallya moved to London to evade arrest.

An ED spokesperson said the United Kingdom authorities took cognisance of its affidavit and moved for Mallya's extradition under money laundering charges as well. Mallya has been wanted by various investigative agencies for loan default and other financial irregularities. In April this year, London's Scotland Yard, had formally arrested Mallya on an extradition warrant.

The hearing on December 4 is estimated to last eight days and the judge may make a decision on India's extradition request at the conclusion of the hearing, the Crown Prosecution Service said.

Vijay Mallya was arrested in London on Tuesday, appeared in court, and was granted bail. Mallya had earlier slammed the money-laundering charges against him as "wild, baseless". According to an ED official who asked not to be identified, Tuesday's arrest was based on the allegations of money laundering in the Kingfisher Airlines loan default case. The money laundering charge and the evidence in support has been joined to the original fraud charges. Mallya stepped down as the director of the Indian Premier League cricket team Royal Challengers Bangalore a year ago.




Kingfisher Airlines debt touches Rs 934 crore due to spike in oil prices.

@sandeep_muttagi: Vijay Mallya has been arrested again. It owed an amount close to a billion dollars to IDBI and the State Bank of India as loan.

The money was then diverted to shell companies in seven countries, including the US, UK, France and Ireland, the report stated, citing the sources.

Fugitive tycoon Vijay Mallya is facing money laundering charges in London involving the Force India Formula One team, and is fighting his extradition to India.

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