Vijay Mallya, King Of Good Times Arrested In London

Vijay Mallya who claimed himself to be the king of good times owed 17 banks a whopping amount of Rs. 9081 crores.

New Delhi: Liquor baron and former Rajya Sabha MP, Vijay Mallya was finally arrested by Scotland Yard police in London on Tuesday, days after India requested Britain to extradite him. He is wanted in various cases of foreign exchange violation and debt recovery. India also formally requested the British High Commission for his extradition.With this, it would become easier for the Indian agencies to bring him back.

Mallya has been living in London since last year. The baron owed Rs. 950 crores to the IDBI bank. The CBI which started investigating loans given by IDBI Bank to Kingfisher group companies since 2014, secured a non-bailable warrant against Mallya in a case connected to alleged money laundering and willful default of loans.

The baron who claimed himself to be the king of good times left the country on March 2, 2016, the day nearly public sector banks moved the Debt Recovery Tribunal against him. He owed them over nine thousand crores in loans.

Mallya had been offering to negotiate with the banks for a one-time settlement of dues and sought the apex court’s intervention. However, the banks did not yield. Since then the authorities are trying to bring him back.

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