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Vijay Mallya arrested in UK for money laundering, released on bail

Vijay Mallya arrested in UK for money laundering, released on bail

Mangalore Today News Network

London, Oct 3, 2017 (Zee News): Fugitive liquor baron Vijay Mallya was on Tuesday arrested in the UK over money laundering case but was granted bail shortly afterwards. This is the second time that Mallya was arrested this year in London.

Vijay MallyaAs per media reports, the cases filed by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) are likely to be clubbed in the London court. Notably, Mallya’s financial dealings are being investigated separately by these two investigative agencies.

The embattled tycoon is out on bail in another case in which he was arrested in April following India’s extradition request.

The businessman, who has been based in the UK since he left India in March last year, is wanted in India for his erstwhile Kingfisher Airlines’ default on loans worth nearly Rs 9,000 crores.

He had been arrested by Scotland Yard on an extradition warrant on behalf of the Indian authorities on April 18.

Mallya had attended a central London police station for his arrest and was released on conditional bail a few hours later after providing a bail bond worth 650,000 pounds, assuring the court of abiding by all conditions associated with extradition proceedings, such as the surrender of his passport and a ban on him possessing any travel documents.

The first hearing in the case took place on June 13, when December 4 had been pencilled in as a tentative final hearing date.

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