Tuesday, 18 April 2017

Scotland Yard arrests Vijay Mallya in London; Indian Banks Owed More than 9000 Crores

New Delhi: Scotland Yard has arrested Vijay Mallya. They will be presented in London court. The Scotland Yard police arrested on 9:30 am (Indian time) on Tuesday, on the order of the Westminster Court, who is running away from the 2016 liquor businessman. He is accused of not paying a loan of more than Rs.12000 crores, including 9000 crores of Indian banks.


According to the information, a team of CBI will go to London for further action. Mallya's chances of extradition from Britain to India went up now. They will be presented at the Westminster Magistrates' Court in London. Vijay Mallya's arrest has been on the order of the Westminster Court. On February 8, the Indian government sent an application to the UK government for the extradition of Vijay Mallya. In January 2017, the CBI court issued non-bailable warrants against Mallya.

Which bank is on how much debt

1600 crores on State Bank of India, 800 crores on Punjab National Bank, 800 crores on IDBI Bank, 650 crores on Bank of India, 550 crores on Bank of Baroda, 430 crores on United Bank of India, 410 crores on Central Bank of India , 320 crores on UCO Bank, 310 on Corporation Bank, 150 crores on State Bank of Mysore, 140 crores on Indian Overseas Bank, 90 crores on Federal Bank, 60 crores on Punjab and Sind Bank and 50 crores on Axis Bank Rupee debt.


What is the case?

Mallya has debt liability of over nine thousand crores taken from public sector banks. Mallya had taken about Rs.22,000 crores in the name of several companies, including its own company Kingfisher Airlines. On the complaint of banks, many agencies including the Directorate of Enforcement of Government of India and the Central Bureau of Investigation are investigating against him. Against him are too many cases of financial embezzlement. In some cases, the ownership of the companies owned by Mallya has been seized on the directive of the court. Due to non-payment of debts and leaving the country, the government has to face a lot of embarrassment in the case of Mallya. When the banks approached the court for recovery of debt, Mallya ran away in March 2016.

Demand Mallya's extradition was approved by the UK Government

Earlier, the UK government had approved India's request to extradite Vijay Mallya, a fugitive alcohol businessman living in London on Friday (March 24). Government of India sent the request to London's Westminster District Court. After the warrant is issued by the court, action will be taken to extradite Vijay Mallya.
                                                     ----Ashish Jha

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