Vijay Mallya, the boss of the now defunct Kingfisher Airlines, was arrested by Scotland Yard in London days after India requested Britain to extradite the ‘international businessman’. The liquor baron was arrested at about 9.30 am London local time and was taken to Westminster court.
Mallya will now be presented before the Westminster Magistration court. The Central Bureau of Investigation (CBI) from India will then put in a request to extradite Mallya to India.
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Mallya left India on March 2, 2016 for London, days after a consortium of 17 banks moved the Debt Recovery Tribunal to hear a July 2013 petition to recover dues of Rs 9,081 crore, including interest, that was loaned to his now defunct Kingfisher Airlines.
Mallya has since offered to negotiate with the banks for a one-time settlement of dues and sought the Supreme Court’s intervention.
Banks had previously shot down Mallya’s offer of Rs 6,868 crore in April 2016 to settle the dues.
Last week, a Delhi court had issued an open-ended non-bailable warrant (NBW) against the liquor baron in case of alleged violation of the Foreign Exchange Regulation Act (FERA).