Minutes after his arrest, Businessman Tycoon Vijay Mallya was granted bail. Mallya, who is wanted in India over unpaid loans of around Rs 9,000 crore, appeared under the watchful eye of the Westminster Magistrates Court. The Westminster Magistrates’ Court later granted him bail on a 650,000 pound security. The next hearing of the case will be on May 17.
Mallya was arrested in connection to extradition request from the UK to India. He was arrested under the Mutual Legal Assistance Treaty by the London Metropolitan Police in the interest of Indian authorities on fraud allegations.
Mallya, 61, fled to Britain in March 2016 after banks sued to recoup about $1.4 billion that Indian experts say Kingfisher owes.
Mallya’s direction revealed to ETNow that he was allowed bail and was at that point home.
Mallya took to Twitter and said the appearance under the steady gaze of court was slated