On Tuesday, Vijay Mallya, 61, was arrested by Scotland Yard in London on the charges of a handover request from India for claimed financial violations. Mallya who came to the UK in March last year had his passport revoked.
The arrest didn't last long, and the business magnate was granted bail on £650,000 bond. The next hearing of the case will be on May 17.
Let's have a look at the whole incident!
According to all the criminal and forgery cases against him, the flamboyant businessman Mallya falls under the 'WANTED' list in India for not repaying the loan of the amount as huge as Rs. 9,000 crore.
The Indian government has not only called him a defaulter but also assumes that he has done all of this intentionally.
Recently, the request from Indian government has been certified by the UK government, and following that, they've captured Vijay Mallya. However, later they chose to grant him the bail on £650,000 bond.
"The UK home department on February 21 conveyed that the request of India for the extradition of Mallya has been certified by the secretary of state and sent to the Westminster Magistrates' Court for a district judge to consider the issue of releasing of the warrant," reports HT.
Also, let's not forget what Arun Jaitley had to say when he visited London and went to a private school as a guest.
"Many thought that when you take a loan from the banks, the money need not be repaid and you can come to London and stay out here...and democracy is liberal enough to permit defaulters to stay here. That normal needs to be cracked," said Arun Jaitley.
More pages in the story will be unfolded as new reports and information will be collected from our sources.
It's a developing story...