Mallya arrested in United Kingdom, gets bail

Mallya arrested in United Kingdom, gets bail

As per the recent reports, the Former liquor baron Vijay Mallya has been allegedly arrested by the Crown Prosecution Service (CPS) in London today in connection with the case of money laundering.

Mallya fled to Britain in March previous year, after defaulting on loan payments to state-owned banks and allegedly misusing the funds by rerouting them to tax havens.

The Mallya-banks fight intensified dramatically after the liquor king flew away from India in March past year saying he wanted to spend more time with his family. Mallya is out on bail after his arrest in April following India's extradition request.

He, however, got bail hours after his arrest, by the local magistrate's court.

"I have not eluded any court".

Outside the courtroom, Mallya said that has "done nothing wrong" and described the allegations against him as "fabricated".

India had asked Britain to extradite Mallya to face trial after the liquor and aviation tycoon fled there last March after banks sued to recover about $1.4 billion that Indian authorities say Kingfisher owes.

Mallya's trial in that case is scheduled for two weeks, starting 4 December.

Mallya left India in 2016, saying he was moving to England to be closer to his children.

This is the second time that Mallya was arrested this year in London. The UK investigators also suspect that he was also involved in laundering money to Switzerland and other countries. The judge will then make a decision based on whether there is a prima facie case against Mallya and whether the alleged crimes would be offences in Britain as well as India.

This is followed by an extradition hearing following which the final decision is taken by the Secretary of State.

In a statement, the Enforcement Directorate (ED), which is probing the money laundering case against Mallya, said that Mallya was arrested by the British Police "in pursuance of the request sent by the agency for his extradition".

India has also asked the United Kingdom that he be extradited to India.

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