Looters will have to return the loot, PM tweets over Mallya's arrest

On a day when businessman Vijay Mallya was arrested by the Scotland Yard in London and momentarily released on bail, Prime Minister Narendra Modi criticised those have "looted the poor and middle classes".

The Metropolitan Police's Extradition Unit carried out the arrest this morning on behalf of the Indian authorities in relation to accusations of fraud.

Mallya appeared at the Westminster Magistrates' Court in capital city of United Kingdom and was seen coming out along with his legal advisors just a few hours later when he was granted bail. Later Westminster Magistrates Court granted him bail on a 650,000 pound bond. The court has set May 17 as the date for the next hearing.

Addressing the media in Delhi, Gangwar claimed that although bail was granted to Mallya, who is facing money laundering charges, this does not imply any leniency towards him. "Extradition hearing in Court started today as expected", he tweeted.

The flamboyant financier secretly fled India in March 2016, owing more than $1.4 billion after defaulting on loan payments to state-owned banks and allegedly misusing the funds.

The Vijay Mallya case has come under the British judicial process and Indian agencies are making their best effort to have him face trial in India, the Centre said on Wednesday. "For the government to be telling people here that they have done a very big thing is a little premature", he told ANI. The 61-year old man has finally been nabbed by the Scotland Yard police as he is wanted in India for defaulting on loans.

This case relates to the one filed by the Enforcement Directorate in March 2016.

Once an extradition request is made, the British government considers merit and India has crossed that hurdle in Mallya's case, the source said.

Kingfisher Airlines Chairman Vijay Mallya speaks to the media during a news conference in Mumbai November 15, 2011.

India has lodged a formal request that Mallya is extradited to his native country; this is likely to happen through an existing extradition treaty between Britain and India.



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