New Delhi: Liquor baron Vijay Mallya was arrested by the Scotland Yard in London on Tuesday. Mallya, who is wanted in India for defaulting on loans worth Rs 9,000 crore will be produced before the Westminster Magistrates' Court. The former owner of Kingfisher Airlines has been declared an absconder in India and is likely to be extradited. A team from the Central Bureau of Investigation (CBI) will visit the United Kingdom soon.
Here’s what we know so far:
- Vijay Mallya has been granted bail for £650,000. Next hearing on May 17 for extradition
- Mallya is back home after getting bail around 12 noon London time
- He was arrested by the Scotland Yard at 9:30AM London time
- He will be produced before the Westminster Magistrates' Court in London
- A team from the Central Bureau of Investigation will visit the United Kingdom soon
- The decision lies with the UK court to either give Mallya bail or keep him in judicial custody
- The arrest was put in motion after Finance Minister Arun Jaitley’s visit to London
- Jaitley personally requested personally appealed to British PM Theresa May to look into the issue
- As Mallya legally entered the UK, extradition was the move chosen rather than deportation
- The extradition process from the UK involves a number of steps, including a decision by the judge whether to issue a warrant of arrest
- In case of a warrant, the person is arrested and brought before the court for preliminary hearing followed by an extradition hearing before a final decision is taken by the secretary of state
- Key points used in extradition was charge sheet filed by CBI in January in the IDBI bank default case
- Charge sheet spoke of money laundering rather than loan default, thus ensuring early action by the UK
- More than half a dozen court warrants have already been issued in Mallya's name
- He owes banks at least Rs 9,000 crore
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