What is the case against Vijay Mallya, Kingfisher airlines?

Once called the 'King of Good Times' for his extravagant lifestyle, Mallya has been embroiled in financial scandals since 2012.

What is the case against Vijay Mallya, Kingfisher airlines?

New Delhi/London: Embattled business tycoon Vijay Mallya, who was arrested by UK police on Tuesday, is wanted in India for loan defaults and money laundering.

This is the second time the 61-year-old former chief of erstwhile Kingfisher airlines was arrested in the UK. He was out on bail since his first arrest in April.

Once called the 'King of Good Times' for his extravagant lifestyle, Mallya has been embroiled in financial scandals since 2012.

He is wanted for loan defaults worth nearly Rs 9,000 crores to the Kingfisher Airlines. A consortium of 17 Indian banks are trying to recover the money.

The ED has also filed a money-laundering case against him for allegedly syphoning some ₹900 cr abroad. The money was given to Kingfisher Airlines.

A Hyderabad court had also issued a non-bailable warrant against Mallya for his failure to appear before it in a ₹50 lakh cheating case involving the GMR Hyderabad International Airport Ltd.

Mallya, who has been in the UK since March 2016, also co-owns the Formula One team the Sahara Force India.

The Central Bureau of Investigation (CBI), which is probing the Mallya's case, had earlier issued an international arrest warrant against him. He was arrested by the Scotland Yard on an extradition warrant on April 18.

India and the UK have an Extradition Treaty, signed in 1992.

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