India’s liquor baron and Business tycoon Vijay Mallya arrested by Scotland Yard in London on Tuesday(April 18th) morning. This action was taken after India requested Britain to extradite Mr Mallya, who is facing charges of money laundering and faces several arrest warrants. He will be presented before West Minister court in London.
According to indiatoday report, Mallya left India on March 2, 2016 for London, days after a consortium of 17 banks moved the Debt Recovery Tribunal to hear a July 2013 petition to recover dues of Rs 9,081 crore, including interest, that was loaned to his now defunct Kingfisher Airlines. Mallya has since offered to negotiate with the banks for a one-time settlement of dues and sought the Supreme Court’s intervention. Banks had previously shot down Mallya’s offer of Rs 6,868 crore in April 2016 to settle the dues.Last week, a Delhi court had issued an open-ended non-bailable warrant (NBW) against the liquor baron in
Last week, a Delhi court had issued an open-ended non-bailable warrant (NBW) against the liquor baron in case of alleged violation of the Foreign Exchange Regulation Act (FERA).
Recently, after three unsuccessful attempts, banks have finally managed to sell the famous Kingfisher Villa owned by Vijay Mallya to actor-businessman Sachiin Joshi. Kingfisher Villa is located in Candolim, Goa and is spread across 3 acres, which has become famous for the parties that the high-flying Mallya threw at the villa. According to reports, Sachin Joshi has bought Villa for Rs 73 crore.
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