Liquor tycoon Defaulter for India, Vijay Mallya, who is wanted in India for defaulting on loans worth Rs 9,000 crore, has been arrested under the Prevention of Money Laundering Act in London.
Mallya has, again and again, said no to appear before courts and investigators in India since he secretly runs away to Britain in March 2016, after defaulting on loan payments to state-owned banks and allegedly exploitation the funds.
Vijay Mallya has been arrested in London on money laundering charges, reports DD News. The ex- liquor baron has been under arrested under the Prevention of Money Laundering Act (PMLA), reports said.
The tycoon, who has been staying in London for over a year now, is accused of defaulting on loans worth thousands of crores in India. He slipped out of India on March 2 last year, in the middle of attempts
The businessman faces at least half a dozen arrest warrants in India.
Known for a bountiful lifestyle, Mr Vijay Mallya has repeatedly refused to appear before courts and investigators in India. He has been seen often at public events in Britain.On Twitter, he has defended himself, dismissing the charges against him.
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