Vijay Mallya granted bail, calls it usual media hype
The 61-year-old business tycoon has been granted bail by the UK court within hours of the arrest. Vijay Mallya even went on to Tweet about the media after he began trending on all social media platforms.
Usual Indian media hype. Extradition hearing in Court started today as expected.— Vijay Mallya (@TheVijayMallya) April 18, 2017
Bengaluru-based magnate Vijay Mallya was arrested in London by the Scotland Yard earlier today. Mallya was produced in the Metropolitan Court. However, his extradition to India remains a mystery. British authorities had earlier informed the Central Bureau of Investigation (CBI) about the arrest.
Authorities in India had requested the United Kingdom officials to extradite Mallya, who has been absconding since last year. He has been accused of defaulting bank loans worth Rs 9,000 crores and will also be facing charges for money laundering.
The Central Government had cancelled his passport and had asked the UK government to deport him to India. However, the foreign ministry's request was rejected as the UK law allowed visitors to stay back even if their passport wasn't valid any longer.
Mallya, who owns Kingfisher Airlines, owes over Rs 9,000 crore to various banks and has also been charged for cheating and conspiracy by the CBI, that had filed a 1,000-page chargesheet against him in 2009. The probe found that Rs 250 crore of the given amount to buy aircraft parts was diverted abroad.
Extradition is a long process in London and it will have to be proved to the judge in London that the offence Mallya has been accused of in India would be considered a criminal offence in the UK too.