Vijay Mallya, accused of defaulting on loans worth crores, was arrested in London today by Scotland Yard police upon India’s request has been released on bail. As per the Scotland Yard statement, Mallya was arrested today in the morningat around 9.30 am on behalf of the Indian authorities in relation to accusations of fraud. He was taken to Westminster’s Magistrates’ Court in London where he was granted bail three hours after his arrest.

Soon after getting bail from the court, he took on the twitter and wrote, “Usual Indian media hype. Extradition hearing in Court started today as expected.”

British authorities have informed the Central Bureau of Investigation (CBI) about Mallya’s arrest.Sources said Enforcement Directorate officials will go to London soon.

Liquor baron Vijay Mallya arrested by Scotland Yard in London

Minister of State for Finance Santosh Gangwar told India Today, “Mallya will be brought back to India. The government is working towards it continuously, no one will be spared.”

Vijay Mallya, who had launched the now-defunct Kingfisher Airlines that owes over 9,000 crores to various banks, has been charged with cheating and conspiracy by the CBI that filed a 1,000-page chargesheet against him for defaulting on a 900-crore loan taken from the IDBI bank in 2009. The CBI probe found that 250 crore of this – given to buy aircraft parts – was diverted abroad.