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Vijay Mallya faces arrest in London on money laundering charges

Liquor baron Vijay Mallya, who is wanted in India for defaulting on loans worth Rs 9,000 crore, was arrested in London on Tuesday but was granted bail soon after.

Mallya has repeatedly refused to appear before courts and investigators in India since he secretly fled to Britain in March, 2016, after defaulting on loan payments to state-owned banks and allegedly misusing the funds.


Here’s a round-up of events on what has happened to the liquid baron so far:

October 2017: Mallya was once again arrested in London following an Enforcement Directorate affidavit.

April 2017: Mallya arrested in London on India’s request for extradition.

April 2016: Enforcement Directorate approach special court to issue non-bailable arrest warrant against Mallya.

April 2016: Ministry of External Affairs revokes Vijay Mallya’s passport.

April 2016: Hyderabad court convicts Vijay Mallya in case filed by GMR Hyderabad International Airport for bounced cheque.

April 2016: Banks rejected Mallya’s offers for payment of dues worth Rs 9,000 crore.

March 2016: Mallya offers to pay Rs 4,000 crore by September to banks.

March 2016: On March 9, Mallya leaves India.

March 2016: Vijay Mallya in discussion with banks to settle debt.

February 2016: SBI led consortium moved debt recovery tribunal (DRT) to attach Vijay Mallya’s passport.

December 2015: CBI questions Vijay Mallya in Rs 900 crore IDBI Bank’s loan.


SOURCE  moneycontrol.com/

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