Money Laundering Case: Vijay Mallya arrested in London, gets bail

Vijay Mallya
Photo IANS

New Delhi, Oct 3, 2017: Absconding liquor baron Vijay Mallya, who is wanted for defaulting on loans worth Rs 9,000 crore, soon after his arrest under the Prevention of Money Laundering Act in London on Tuesday, granted bail.

Mallya has repeatedly refused to appear before courts and investigators in India since he secretly fled to Britain in March, 2016, after defaulting on loan payments to state-owned banks and allegedly misusing the funds.

Earlier, Mallya was arrested by Scotland Yard in April on fraud allegations, triggering an official extradition process in the British courts.

He attended a central London police station for his arrest and was released on conditional bail a few hours later after providing a bail bond worth 650,000 pounds, assuring the court of abiding by all conditions associated with extradition proceedings, such as the surrender of his passport and a ban on him possessing any travel documents.

Wefornews Bureau

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