Sources told PTI that Mallya’s extradition will break the myth that you can cross boundaries and escape punishment.
Embattled Indian tycoon Vijay Mallya, who has been declared a proclaimed offender, was arrested in London by Scotland Yard on India's request for his extradition on fraud charges. Senior Indian officials described his arrest as the first salvo in the case, which will now involve a legal process in the UK to determine if Mallya can be extradited to India to face charges in Indian courts. The arrest comes weeks after Indian Finance Minister Arun Jaitley had indicated that Mallya's extradition would feature in his talks during his visit to the UK.
The 61-year-old liquor baron, wanted in India for defaulting on loans, was arrested after he appeared at a central London police station this morning. The flamboyant businessman, who once called himself 'The King of Good Times", was released on bail a few hours later.
Sources told PTI that Mallya’s extradition will break the myth that you can cross boundaries and escape and that it would be an important test case. The CBI, Indian High Commission will present India's case in the UK court for extradition of Vijay Mallya, say sources.
The CBI and the Indian High Commission in London will present India's case in the UK court for extradition of controversial industrialist Vijay Mallya as the government looks to break the myth that a law breaker is out of bound once he is out of country. A top source said India is seeking extradition of Mallya for defaulting on loans due to IDBI.
"We want to shatter this myth that by crossing boundaries you are out of bounds. Mallya extradition will act as an important test case," the source said.
The embattled businessman, who has been declared a proclaimed offender in India, was today arrested in London by the Scotland Yard on India's request for his extradition on fraud charges.
The 61-year-old liquor baron, wanted in India for defaulting on loans, was arrested after he appeared at a central London police station this morning.
The flamboyant businessman, who once called himself 'The King of Good Times", was released on bail a few hours later.
‘I’m confident that the efforts to bring him back to India will fructify,’ he added. Meanwhile, Minister of State for Finance Santosh Gangwar has assured that the beleaguered liquor baron will be brought back after completion of all required legal procedures.
Addressing the media, Gangwar claimed that although bail was granted to Mallya, this does not imply any leniency towards him. He added that granting bail was required on grounds of a ‘legal formality’.
‘Eradication of black money has been discussed since the Lok Sabha elections. We will not let miscreants like Mallya escape. We will make sure he is brought back to India and produced before the law after due consideration of legal formalities,’ he said. ‘Our government will make sure that nothing diverts this country’s progress. Mallya’s case will be investigated thoroughly,’ added Gangwar.
Mallya, who was finally caught after repeatedly refusing to appear before courts and investigators in India since he secretly fled to Britain last March, was granted bail.
Last month, the Ministry of External Affairs (MEA) informed that extradition of the absconding liquor baron has been stratified by the Secretary of State of the U.K. Government and added that a warrant would soon be released against him.
The Supreme court had started proceedings against Mallya a year ago and had issued notice to him on March 8, 2016, on a plea by a consortium of banks led by the State Bank of India (SBI) for recovery of about Rs. 9,000 crore which the businessman and his companies owed to them. Mallya, however, fled the country days before the apex court took up the case against him.
Attorney General Mukul Rohatgi urged the court to direct him to bring back the USD 40 million which he had received from Diageo. He told the bench that Mallya had breached the court orders and his refusal to bring back the money had aggravated the breach. Rohatgi also said that Mallya should be directed to appear personally before the court.
With inputs from PTI and ANi
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