British police on Tuesday arrested Indian business tycoon Vijay Mallya in London on behalf of authorities in India, where he is wanted on charges of money laundering and bank demands that he pay back nearly a billion pounds in loans extended to his now-defunct airline.
Mallya was arrested after showing up in a police station and will appear in court for a preliminary hearing later Tuesday, said a statement from the Metropolitan Police in London.
India’s Enforcement Directorate, now investigating the liquor baron’s debts totaling 94 billion rupees (£977 million), asked a New Delhi court last year to demand Mallya’s presence during proceedings.
At the time, it said Mallya was not cooperating with investigators, and three times ignored their summons to give evidence.
Read more here: telegraph.co.uk
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