UPDATE 19:45 IST: Mallya out on bail.
Faster than MS Dhoni's stumping: Twitter full of jokes after #VijayMallya gets speedy bail https://t.co/BCDG9hyqBg pic.twitter.com/qmqhWY0Aod
— DNA (@dna) October 3, 2017
Vijay Mallya is an Indian businessman and politician, who fled to London a while back as he is wanted in India for a few financial crimes, particularly for unpaid debts amounting to thousands of crores of rupees. The 61-year old liquor baron is said to have been arrested today in London, in a money laundering case.
In April this year, he was arrested over other charges but was let out on bail. India had also given a formal extradition request to the United Kingdom. He has been refusing to appear in court and has been absconding from authorities since March 2016, when he fled from India.
Now, he has been arrested under the Prevention of Money Laundering Act (PMLA). His now-collapsed airline known as ‘Kingfisher Airlines’ had unpaid loans worth more than Rs. 9,000 crore in its name and Mallya will face over a dozen charges when he is brought back to India.
While cases against him have kept adding on, Mallya has often used Twitter to defend himself and dismiss charges up against him. According to reports, Mallya was arrested by Scotland Yard over the ongoing money laundering case against him. Here’s Mallya telling TOI that allegations against him are wild and baseless.
Investigation agencies have uncovered that Mallya diverted a major chunk of over 6,000 crore INR to several countries, and has been arrested in connection to this laundering case. Mallya will shortly be produced in front of a court for a formal hearing.
The ‘King of Good Times’ has certainly not been having the best of times over the last few months or so. There is an Extradition Treaty between UK and India but reports suggests that Mallya may be let out on bail once again. Further details will be out soon.
I personally do not believe that Vijay Mallya is the criminal that he is being made to look like, as he shouldn’t be held personally liable for Kingfisher Airlines’ debts. “I am safe in this country under UK laws, until proven otherwise.”
Keep an eye out on Read Scoops for the latest news.
