1. Vijay Mallya arrested: Watch when PM Narendra Modi issued warning to loan defaulters

Vijay Mallya arrested: Watch when PM Narendra Modi issued warning to loan defaulters

Vijay Mallya was arrested by the Scotland Yard on Tuesday afternoon in London and was given bail later.

By: | New Delhi | Updated: April 18, 2017 5:06 PM
vijay mallya, vijay mallya arrested, scotland yard, scotland yard arrests vijay mallya, vijay mallya arrested in london, narendra modi, pm narendra modi, prime minister narendra modi Vijay Mallya was arrested by the Scotland Yard on Tuesday. (Source: Reuters/ PTI)

The liquor baron Vijay Mallya was arrested by the Scotland Yard on Tuesday afternoon in London and was given bail by the Westminster Court. Even though his arrest doesn’t mean the case ends here but it is a major step taken by the Indian government to bring Mallya back who has was declared a willful defaulter by banks. Mallya was arrested under Mutual Legal Assistance Treaty (MLAT) after India had made an extradition request to UK authorities. However, Prime Minister Narendra Modi had issued a warning against loan defaulters last year itself and the Indian government delivered on its promise.

Watch the video here:

While addressing a rally, PM Modi attacked defaulters by saying all these corrupt people are scared and are running away from the country. “I’m not going to spare any of them,” he announced. The Prime Minister added that this money which has been looted doesn’t belong to the banks, it belongs to the poor people of this country and pledged to bring it back. Mallya owes over Rs 9,000 crore to banks like SBI, PNB, IDBI Bank, BoB, Allahabad Bank, Federal Bank and Axis Bank, among others.

In a statement released by the Scotland Yard, it said, “Industrialist #VijayMallya, declared a proclaimed offender, arrested on an extradition warrant,” Scotland Yard was quoted as saying by PTI. “Officers from the Metropolitan Police’s Extradition Unit have this morning, Tuesday 18 April arrested a man on an extradition warrant. Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud. He was arrested after attending a central London police station, and will appear at Westminster Magistrates’ Court later today, 18 April.”

Watch Arun Jaitley’s remarks on the issue:

Mallya, wanted by CBI and Enforcement directorate in loan default case, was declared a wilful defaulter last year for not being able to repay a sum related to Kingfisher Airlines that was grounded in 2012.

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