Former liquor baron Vijay Mallya has been arrested in London by the Scotland Yard realy on Tuesday morning. This is the first step in the process of extraditing him from the United Kingdom.
Mallya will be produced in Westminster court later today. He was arrested on the basis of India’s letter rogatory under Mutual Legal Assitance treaty (MLAT). Enforcement Directorate will file a fresh case against Mallya after High Commission Official sends his arrest document.
“The industrialist has been declared a proclaimed offender and has been arrested on extradition warrant,” states the Scotland Yard. A month ago the British government had sent five officials to deal with the investigation. India’s request to the United Kingdom for the extradition of embattled liquor tycoon was certified by the British government last month.
The business mogul had fled to Britain in March 2016 after being pursued in courts by banks seeking to recover about Rs 9,000 crore owed by his Kingfisher Airline. A magisterial court in Mumbai had issued a non-bailable warrant and an extradition order against beleaguered businessman him in March, but Mallaya continued to take refuge in the UK.
In April 2016, a special court for Prevention of Money Laundering Act cases too had issued an NBW against Mallya, while in January this year a CBI court issued an NBW against the beleaguered liquor baron in an IDBI loan default case.
In March this year, Mallya took to Twitter saying he was ready to negotiate with banks to pay a one-time settlement charge on the Rs 9,000-crore loan default and requested the Supreme Court to intervene and “put an end to all this by directing banks and us to negotiate and settle. We are ready.”
Throughout the downfall of the now defunct Kingfisher Airlines Mallya maintained that the airline failed not due to mismanagement or rerouting of funds, but due to the then government policies and economic situations.
Claiming that KFA was “India’s largest and finest airline”, he said, “It sadly failed purely due to economic and policy situations. I am humble enough to say sorry to employees and all stakeholders everyday. I really wish government helped.”