mallya arrested, granted bail

Vijay Mallya’s financial defaults that led to his arrest in London

In a major breakthrough for Indian law enforcement authorities, the Scotland Yard on Tuesday arrested absconding liquor baron Vijay Mallya in London. Mallya is wanted in several economic offences cases, including defaulting on loans worth thousands of crores of rupees. Following his arrest, the Ministry of Home Affairs has directed the CBI and ED to apply for his extradition in the IDBI bank loan fraud case. In a statement issued, the Metropolitan Police said Mallya was arrested at 9.30 am (local time) and would be produced before a Westminster Magistrate. Mallya has been granted bail by the court and the proceedings will continue.