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Vijay Mallya arrested, gets bail

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By PTI Updated: Oct 04, 2017 12:15 am
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London, Oct. 3 (PTI): Embattled liquor baron Vijay Mallya was “re-arrested” today in a money laundering case filed by the Enforcement Directorate (ED) of India before being released on a 650,000 pounds bail by a court here.
The 61-year-old flamboyant businessman, already out on bail on an extradition warrant executed by the Metropolitan Police earlier this year, was released on the same bail conditions as before to appear for his extradition hearing on December 4.
Speaking to PTI outside the Westminster Magistrates’ Court, Mallya said that he has “done nothing wrong” and described the allegations against him as “fabricated”.
The UK s Crown Prosecution Service (CPS), which is arguing the case against Mallya on behalf of the Indian authorities, told the court the new charges were “supplemental” to the earlier fraud charges against him.
The new case gives evidence of the destination of the allegedly fraudulently obtained funds, some of which they claim may have landed in the Formula One team – Force India. “It is essentially about the ultimate destination of the funds… some of which we believe ended up in Force India Formula One,” said CPS barrister Mark Summers.
The previous fraud charges relate to Mallya’s now-defunct Kingfisher Airlines owing more than Rs 9,000 crore to various Indian banks.
The UB Group chief has been on self-imposed exile in the UK since he left India on March 2, 2016.

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By PTI Updated: Oct 04, 2017 12:15:35 am