Tags: vijay mallya | indian | businessman | arrested

Vijay Mallya, Indian Businessman, Arrested in UK

Image: Vijay Mallya, Indian Businessman, Arrested in UK

Chairman and CEO of India's Kingfisher Airlines Vijay Mallya talks on his cellphone during a meeting with pilots in New Delhi on March 15, 2012. (MANAN VATSYAYANA/AFP/Getty Images)

By    |   Tuesday, 18 Apr 2017 12:12 PM

Vijay Mallya, a multimillionaire Indian businessman, was arrested in London on fraud accusations Tuesday.

The Metropolitan Police extradition unit took Mallya into custody on behalf of India, the BBC News reported. Indian authorities said Mallya faces financial irregularity charges there in connection with his failed Kingfisher Airlines.

He was scheduled to appear in Westminster Magistrates Court Tuesday, according to a statement from Scotland Yard, posted on Twitter by Asian News International.

Mallya, 61, appeared to downplay the charges in a Twitter post on Tuesday.

Mallya, the co-owner of the Force India Formula One racing team, was accused of fleeing India for the United Kingdom to avoid arrest in relation to unpaid debts, Scotland Yard told The Guardian.

"Mallya was famous for his flashy lifestyle in India and hosting lavish parties attended by models and Bollywood stars," wrote The Guardian's Rupert Neate. "He was once hailed as the country's equivalent to Sir Richard Branson due to his success, which included brewing and liquor companies, an airline, Force India F1 team and an Indian Premier League cricket team."

Mallya became wealthy under his Kingfisher brand beer, stated the BBC News. His airline, though, which experienced losses over five straight years, stopped flying in 2012 and its flying permits lapsed in 2013, according to the broadcaster.

His India passport was revoked in April 2015 and the Indian government started seeking his extradition from the United Kingdom in May 2015, noted the BBC News.

The Times of India said a preliminary hearing must be held, followed by an extradition hearing before a final decision is made by the secretary of state on extradition in the United Kingdom.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
TheWire
Vijay Mallya, a multimillionaire Indian businessman, was arrested in London on fraud accusations Tuesday.
vijay mallya, indian, businessman, arrested
309
2017-12-18
Tuesday, 18 Apr 2017 12:12 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved