Indian tycoon Vijay Mallya held in UK

London: Indebted business tycoon Vijay Mallya has been arrested in London, the Metropolitan Police has confirmed, reports BBC.He was arrested by the force's extradition unit "on behalf of the Indian authorities in relation to accusations of fraud", the Met said.India has been pushing for the extradition of Mr Mallya, who faces charges of financial irregularities at his defunct Kingfisher Airlines.
Mallya is said to owe banks $1bn (£600m), but he denies any wrongdoing. The businessman made his fortune selling beer under the Kingfisher brand before branching out into aviation and Formula 1 racing. Mallya also owns an Indian Premier League cricket franchise.

 

Indian tycoon Vijay Mallya held in UK

London: Indebted business tycoon Vijay Mallya has been arrested in London, the Metropolitan Police has confirmed, reports BBC.He was arrested by the forces extradition unit on behalf of the Indian authorities in relation to accusations of fraud, the Met said.India has been pushing for the extradition of Mr Mallya, who faces charges of financial irregularities at his defunct Kingfisher Airlines. Mallya is said to owe banks $1bn (600m), but he denies any wrongdoing. The businessman made his fortune selling beer under the Kingfisher brand before branching out into aviation and Formula 1 racing. Mallya also owns an Indian Premier League cricket franchise.