Vijay Mallya Arrested by Scotland Yard in London

Vijay Mallya

Vijay Mallya

The team is now fourth in the constructors' standings after scoring double points finishes at all three races this season.

The liquor baron and former CEO of Kingfisher airlines Vijay Mallya, one of India's most-wanted who is on the run for nearly most than a year, has been arrested in Westminster, London by Scotland Yard police.

The Scotland Yard on Tuesday arrested absconding Indian liquor baron Vijay Mallya in London, local media reported.

Vijay Mallya, the "King of Good Times".

Sources said that British authorities have informed the Central Bureau of Investigation (CBI) about the arrest.

India submitted an extradition request to Britain in February after investigators demanded that Mallya be brought home to face charges.

Mallya, 61, who has been pursued by India over unpaid loans tied to his now-defunct Kingfisher Airlines, was arrested in London, but granted bail today.

"It was a voluntary action". Subsequently here hours after arrest he was released on bail three hours after arrest. Through a tweet, he said "Usual Indian media hype". It is Scotland Yard Police that was able to track Vijay Mallya and finally arrested him today morning.

Mallya was termed a "wilful defaulter" a year ago, after evading loans worth over Rs 9,000 to a consortium of banks led by the State Bank of India, aside from other economic offences against him, including a money laundering case.

Vijay Mallya is an Indian businessman. United Kingdom has arrested Mallya, in cooperation with India, who left the country previous year amidst attempts by the banks to recover their unpaid loans. If this request is privileged, it will show the British sensitivity towards our concerns.

An India-based spokesman for Mallya's UB Group did not offer an immediate comment, said Reuters. As Mallya is fighting the extradition order, he will have the right to appeal and the case can go up to the UK Supreme Court.

Mr Mallya has been charged with cheating and conspiracy by the CBI that filed a 1,000-page chargesheet against him for defaulting on a 900-crore loan taken from the IDBI bank in 2009.

Mallya took over the chairmanship of his father's massive Kingfisher beer company back in 1983 and eventually bought stakes in his own F1 team and cricket franchise.

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