Vijay mallya gets bail after a sort period being arrested by london’s scotland yard.

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VijayMallya Aressted

The boss of kingfisher airline, was arrested today by scotland yard in london. After 3 hrs he gets bail sources said the boss will be deported in india as per UK’s mutual legal assistance
conciliation. Scotland yard said in a statement the 61 year old vijay mallya was arrested at about 9.30 am in london and get bail from westminester magistrates court in london.

Once he came back to india, the embattled india tycoon willl face proceedings under prevention of money laundering act.
stressed-companies-vijay mallya

Britisf authority have shared the information the central bureau of investigation about malllya’s arrest.

Vijay mallya, whose extradition india has been looking since he fled to the united kingdom in
march last year, he is wanted in various cases of foriegn action violation and debt recovery. A
formal urge by india to the british high commision for his extradition.
stressed-companies-vijay mallya
17 banks moved the debt recover dues Rs9,081 crore, including interest.
Back in the time mallya has offered to negotiate with the bank for the one time settlement of
dues rs 6,868 crore in april 2016.

However most of the wanted person has a right to appeal to the higher court against any
decision. Vijay mallya Cases.

August 9, 2014: CBI starts preliminary enquiry into the Rs 800 crore bad loan given by
IDBI Bank to Kingfisher Airlines ignoring company's negative credit ratings.

July 29, 2015: IDBI Bank lodges complaint against Mallya accusing him of cheating and
conspiracy to misuse bank's funds in connivance with public servants.

October 10, 2015: CBI conducts raids at Mallya's office. December 10, 2015: CBI
questions Mallya.

February 27, 2016: SBI-led consortium of banks moves debt recovery tribunal to
attach Mallya's passport.

March 2, 2016: Mallya flees India.
June 6, 2016: CBI forms SIT to investigate case; Rakesh Asthana appointed to lead the
team

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