Vijay Mallya was arrested in London in a money laundering case. The arrest is part of the procedure and he could be granted bail soon.
The Liquor Baron was arrested in connection with money laundering case few months ago in UK and immediately released on bail.
Mallya was declared as a willful defaulter by SBI-led consortium of banks after he failed to repay Rs 9,000 crore of loan he borrowed. After he fled to UK, India moved an extradition request to Mallya face the trial.
More than half-a-dozen arrest warrants had been issued against Vijay Mallya in India. However, Mallya refused to cooperate with the investigation. He even denied diverting most of Rs 6,000 loan he borrowed from banks. The extradition case of Mallya will come up for hearing in December this year. CBI & ED were taking all the measures to make the liquor baron pay the price.
The Liquor Baron was arrested in connection with money laundering case few months ago in UK and immediately released on bail.
Mallya was declared as a willful defaulter by SBI-led consortium of banks after he failed to repay Rs 9,000 crore of loan he borrowed. After he fled to UK, India moved an extradition request to Mallya face the trial.
More than half-a-dozen arrest warrants had been issued against Vijay Mallya in India. However, Mallya refused to cooperate with the investigation. He even denied diverting most of Rs 6,000 loan he borrowed from banks. The extradition case of Mallya will come up for hearing in December this year. CBI & ED were taking all the measures to make the liquor baron pay the price.