Vijay mallya gets bail after a sort period being arrested by London’s Scotland yard.

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VijayMallya 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.

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.

Once he came back to india, the embattled india tycoon willl face proceedings under prevention of money laundering act. 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.
stressed vijaymallya
Britisf authority have shared the information the central bureau of investigation about malllya’s arrest.

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.
stressed bijay malya
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.

June 14, 2016: The Enforcement Directorate (ED) attaches Mallya's assets worth Rs
1,411 crore.

July 27, 2016: SBI lodges an FIR against Mallya following pressure from the SIT.

August 29, 2016: The bank consortium urges the Supreme Court to act against Vijay

Mallya for failing to turn up in court despite a contempt notice issued against him

September 3, 2016: The ED attaches Rs 6,630 crore worth of properties belonging to
Mallya.

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