KV Correspondent

Vijay Mallya arrested in London, gets bail

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India’s liquor baron and former chairman of United Spirits, who is wanted in a 9000 Cr defaulting loan case was on Tuesday arrested in London, according to a National Business daily.  

Mallya, 61, appeared in the Westminster Magistrates’ Court in London later in the day, when he was granted bail.

Pertinently, Mallya is wanted in India for defaulting on loan worth around Rs 9,000 crore. He was declared a wilful defaulter.

Mallya left India on March 3, 2016 for London, days after a consortium of 17 banks moved the Debt Recovery Tribunal to hear a July 2013 petition to recover dues of Rs 9,081 crore, including interest, that was loaned to his now defunct Kingfisher Airlines.

KV Correspondent

Kashmir Correspondent cover all daily updates for the newspaper

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