Vijay Mallya arrested in London; gets bail within few hours

Wanted business tycoon Vijay Mallya was arrested in London on Tuesday morning, based on an extradition warrant. He was later granted bail and released on a bond of £6,50,000 and is scheduled to appear in court on May 17.

“Officers from the Metropolitan Police’s Extradition Unit have this morning, Tuesday, 19 April, arrested a man on an extradition warrant,” Scotland Yard police said in a statement, adding that the liquor baron had been arrested on behalf of Indian authorities in relation to accusations of fraud. “He was arrested after attending a central London police station and will appear at Westminster Magistrates’ Court.” Earlier this year, India began formal proceedings to extradite Mr. Mallya, wanted in connection with a number of charges, including defaulting on loans amounting to ₹9,000 crore.

The arrest comes weeks after Indian Finance Minister Arun Jaitley had indicated that Mallya’s extradition would feature in his talks during his visit to the UK, sources said.