Arrest shows government's will to act against Vijay Mallya: BJP
- Author: Zachary Reyes Apr 25, 2017,
Apr 25, 2017, 19:40
"Mallya was arrested on behalf of the Indian authorities in relation to accusations of fraud", the statement said.
Vijay Mallya was the owner of the now defunct Kingfisher Airlines, which owes over Rs 9000 crore in loans to banks.
Expressing delight post the arrest of beleaguered liquor baron Vijay Mallya from London, former Kingfisher employee Neetu Shukla on Tuesday said the employees will cherish the move further more when they recover their dues.
In February, the Indian government handed over to the United Kingdom authorities a formal request for Mallya's extradition, saying it had a legitimate case against him on charges of financial irregularities and loan default.
Known for his flamboyance, the only reference Mallya made to his arrest was to blame the Indian media with an earlier tweet. Mallya was produced at Westminster Magistrates' Court where hearings in his extradition case began today.
India's Enforcement Directorate, now investigating the liquor baron's debts totaling 94 billion rupees ($1.45 billion), asked a New Delhi court past year to demand Mallya's presence during proceedings.
The CBI had in July 2015 filed a case against Mallya and officials of the IBDI bank.
Mallya's arrest by Scotland Yard on Tuesday marks the first step in the process of extradition. A CBI court had issued a non-bailable warrant against Mallya in a Rs 720-crore IDBI loan default case in January.
The Westminster Magistrates Court though was quick to grant Mallya, 61, bail. Sinha said the arrest also signifies the strong resolve of law enforcement agencies and the government.
Now, in the court, the Indian authorities will have to present a case for extradition.
"Mallya detained and bailed!"
Vijay Mallya is no stranger to parties, there were also reports that he was watching the Formula 1 races from his home while he was under house arrest for infamous reasons. Mallya has been a known personality in the Indian motorsport scene. A case under the Prevention of Money Laundering Act was filed against Mallya for allegedly sending overseas Rs 900 crore from his company.
"Will it take another dozen years, 15 years, 30 years or our entire lifetime before Mallya is brought back and Rs 9,091 crore of people's money is recovered".