Business magnate Vijay Mallya is arrested finally in London, it was confirmed by the Scotland Yard police today. He will be appearing in the Westminster Magistrates Courts.
It is a sign of relief to Indian government and the news is confirmed by Scotland Police. In the morning, they issued a statement saying that a man is arrested on an extradition warrant and he is on the accusations of the Indian authorities on the case of fraud.
In this wake, Indian government has issued a non bailable warrant against Mr Mallaya for Rs. 720 crore, IDBI loan default case. He defunct Kingfisher Airlines and owes more than Rs 9,000 crore and fled India on 2 March, 2016.
Moreover, Mallya calls himself a wilful defaulter, that includes State Bank of India, offered him the initial settlement of Rs.4000 crore , out of the total dues of Rs.9000 crores.