London: Liquor baron Vijay Mallya, who is wanted in India for defaulting on loans worth Rs 9,000 crore, has been arrested under the Prevention of Money Laundering Act in London.
The fugitive businessman was arrested in connection with ongoing proceedings against him. He however got bail from a court within an hour of getting arrested, according to media reports.
It was said that more charges were expected to be added against Mallya by the Westminster Magistrates' Court, where an extradition case is going on at India's request.
The Indian law agencies are seeking his extradition in several cases related to foreign exchange violation, debt recovery and embezzlement.
Mallya escaped the country on March 2 last year, in the middle of attempts by a group of banks to recover more than Rs. 9,000 crore loaned to him for his now collapsed Kingfisher Airlines.
India made an extradition request in February to Britain to send back Vijay Mallaya to face trial. Indian agencies followed up their request with a 2,000-page dossier as evidence against Mallya.
He had earlier refused to appear before courts and investigators in India since he secretly fled to Britain in March, 2016, after defaulting on loan payments to state-owned banks and allegedly misusing the funds.
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