Vijay Mallya arrested in London in black money case: Liquor baron Vijay Mallya, who is wanted in India in an IDBI Bank loan default case has been arrested in London, UK under the Prevention of Money Laundering Act.
Vijay Mallya arrested in London in black money case: Liquor baron Vijay Mallya, who is wanted in India in an IDBI Bank loan default case has been arrested in London, UK under the Prevention of Money Laundering Act. The arrest of the ‘King of Good Times’ comes in connection with a money laundering case as reported by DD News. The business tycoon was arrested in London after Enforcement Directorate affidavit was filed in a local court. Mallya appeared in a local court, was arrested and released after his appearance. Mallya is accused of diverting bank loans to tax havens, he has been living in London for the last seven months in an attempt to evade arrest in India. The total amount of debt default on him is to the tune of Rs 9000 cr. Here are all the development that took place in 2017 in Mallya case:
March 2017: Earlier this year, the UK government had conveyed India’s request for liquor baron Vijay Mallya’s extradition to UK local Court. Later in April, Mallya’s luxury property, the iconic Kingfisher villa in Goa, was sold to Sachiin Joshi for Rs 73.01 crore by a consortium of banks led by the State Bank of India. In the same month, he was briefly arrested in London.
April 2017: The “King of Good Times” was arrested in London by Scotland Yard. There was news that CBI would send a team to London to bring back Mallya to India. Mallya was arrested under Mutual Legal Assistance Treaty (MLAT).
June 2017: The CBI had ‘categorically affirmed’ in June that that there was no delay in providing to British authorities evidence against liquor baron Vijay Mallya, who is facing an extradition case in London. The agency came out with a statement after reports that Crown Prosecution Service, which is representing India’s case of Mallya’s extradition, told a London court that it will require three-four weeks time to receive evidence from India.
July 2017: The Supreme Court told the government that it would proceed against beleaguered businessman Vijay Mallya, who has been held guilty of contempt, only when he is produced before it.
September 2017: Embattled liquor baron Vijay Mallya was returned to court in London for a hearing in his ongoing extradition case over economic offences in India. The 61-year-old businessman has out on bail on an extradition warrant executed by Scotland Yard on behalf of the Indian authorities in April.