Fugitive liquor baron Vijay Mallya has been arrested in London in connection with a money laundering case, media reports said.…
Vijay Mallya (Photo: Facebook)
Fugitive liquor baron Vijay Mallya has been arrested in London in connection with a money laundering case, media reports said.
As per reports, his arrest is being seen as the first step in his extradition to India, where he is facing charges of money laundering. He also owes hundreds of crores to a consortium of banks.
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Mallya, whose now-defunct Kingfisher Airlines owes more than Rs. 9,000 crore (including interest) to various banks, had fled India on 2 March 2016.
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The CBI has two cases against him, one related to the IDBI Bank case and the other related to a loan default of over Rs. 6,000 crore, filed on the basis of a complaint from a State Bank of India-led consortium.
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