Biggest Loan Defaulter Vijay Mallya was arrested on Tuesday by Scotland Yard

British authorities notified the Central Bureau of Investigation (CBI) about the arrest.

Embattled business mogul and loan defaulter Vijay Mallya was arrested by Scotland Yard on an extradition warrant on Tuesday. He will be produced before the Westminster Magistrates' Court much later in the day.

British authorities notified the Central Bureau of Investigation (CBI) about the arrest.

Previously in February, the government had handed over a formal request for the fugitive industrialist's extradition to the UK High Commission, saying it had a valid case against him in on charges of loan default and financial irregularities.

Mallya fled to Britain after being pursued in courts by banks seeking to recover about Rs 9,000 crore owed by his Kingfisher Airline. Despite multiple injunctions, he's neglected to appear before investigators in the Enforcement Directorate in connection with a probe below the Prevention of Money Laundering Act (PMLA).

In an IDBI loan default case, a CBI court had also issued an NBW against the beleaguered liquor baron in January 2017.

4:20 pm: Here is the official statement from Scotland Yard on Mallya’s arrest: “Officers from the Metropolitan Police’s Extradition Unit have this morning, Tuesday 18 April arrested a man on an extradition warrant. Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud. He was arrested after attending a central London police station, and will appear at Westminster Magistrates’ Court later today, 18 April.”

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