Vijay Mallya arrested in London; released on bail again

Liquor baron Vijay Mallya arrested in London in money laundering case

Kingfisher Airlines former owner and liquor baron Vijay Mallya was arrested in London for the second time in a money laundering case on Tuesday, according to NDTV report.

Earlier in January this year, a CBI court had issued a non-bailable warrant against Mallya in the Rs 720-crore IDBI Bank loan default case.

Mallya's arrest today was in connection to a money-laundering case filed by ED while his arrest and subsequent bail in April this year was because of a CBI chargesheet. However, within minutes of arrest he was granted bail by the court.

The mogul has rejected claims that he fled his home country over circling creditors, saying outside court: "I have not eluded any court".

Outside the courtroom, Mallya said that has "done nothing wrong" and described the allegations against him as "fabricated". The Britain's Serious Fraud Office (SFO) had reportedly launched an investigation against the liquor baron for alleged money laundering in the United Kingdom and and other countries.

The ED is probing the money laundering case against the liquor baron and it has already filed a charge sheet against him and others in a Mumbai court.

A visibly pleased Mallya said after the hearing that he was facing many "extraordinary charges" but asked journalists to wait for the court's ruling at the end of the extradition trial scheduled to begin on December 4.

Today's arrest was similar to the one by Scotland Yar in April this year which was done on behalf of Indian authorities on an extradition warrant.

British police re-arrested Indian tycoon Vijay Mallya on Tuesday amid an ongoing extradition request from India, where he is accused of fraud.

Nevertheless, the important point is that India's case against Mallya is now even stronger.

They did so on the basis of a formal request that Indian authorities had submitted to Britain in February.

The loan defaulter allegedly diverted a large chunk of funds from the Rs 6,027-crore loan he took for his now- defunct Kingfisher Airlines from a consortium of banks led by State Bank of India.

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