Indian businessman Vijay Mallya granted bail
- Author: Todd Kelly Apr 19, 2017,
Apr 19, 2017, 1:39
Tulsi said when there is a request for extradition then normally bail is granted only after 60 days, but Mallya was given the relief on the same day.
November 10, 2016: Designated court orders seizure of domestic assets of Mallya and entities controlled by him.
He took 720 crore loan amount in IDBI bank for Kingfisher Airlines. Also, he will be presented in Westminster Magistrates' Court.
"Officers from the Metropolitan Police's Extradition Unit have this morning, Tuesday 18 April arrested a man on an extradition warrant".
Sources said that British authorities have informed the Central Bureau of Investigation (CBI) about the arrest.
The Directorate claimed that Mallya was not cooperating with investigators, and had ignored their summons to give evidence three times. In February, the Indian government handed over to British authorities a formal request for Mallya's extradition, saying it had a legitimate case against him on charges of financial irregularities and loan default.
Vijay Mallya, Chairman of Kingfisher Airlines.
Until his next hearing on May 17, Mallya must follow Britain's extradition rules, which include a requirement that he remain at the address provided to the court.
The extradition process from the United Kingdom involves a number of steps including a decision by the judge whether to issue a warrant of arrest.
Mallya made his fortune selling beer and subsequently invested in aviation and sporting arenas including Formula One racing and Indian Premier League cricket.