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Vijay Mallya granted bail in London extradition hearing

Reuters  |  MUMBAI/NEW DELHI 

By Devidutta Tripathy and Douglas Busvine

MUMBAI/(Reuters) - Flamboyant businessman Mallya, pursued by Indian authorities over unpaid loans tied to his defunct Airlines, was arrested in on Tuesday and appeared in for an extradition hearing.

A source close to said he attended a police station voluntarily and the was a technical procedure. Mallya, 61, was arrested on behalf of the Indian authorities over accusations of fraud and appeared in Westminster Magistrates' Court, British police said.

Television channels said he was granted bail at the hearing.

Mallya, in a message on Twitter, called the of his "usual Indian media hype".

had asked Britain to extradite to face trial after the liquor and aviation tycoon fled there last March after banks sued to recover about $1.4 billion that Indian authorities say owes.

has repeatedly dismissed the charges against him and defended himself in messages on Twitter. On January 28 he said that "not one rupee was misused".

A spokesman for India's foreign ministry said "the two governments are in touch" over India's extradition request.

and Britain have a mixed record on extradition, say legal experts. Some cases have collapsed when evidence fell short of the standard of "dual criminality", or actions that amount to a crime in both countries.

"The usually focuses on whether there is sufficient evidence of criminality to extradite someone," said Andrew Smith, a partner at law firm Corker Binning.

"needs to show a prima facie evidential case against this man."

Television channel CNN News18 said a team of Indian law enforcement officials would visit to begin work on the extradition. The Central Bureau of Investigation did not immediately comment.

co-owns the Force Formula One team. He has a base in and a country home bought from the father of triple Formula One world champion Lewis Hamilton.

India's top brewer, United Breweries, part-owned by global giant Heineken, this year asked Mallya, its non-executive chairman, to step down from the board, following a regulatory order. United Breweries was not immediately available to comment after Tuesday's development.

India's capital markets regulator has barred from participating in the securities market for having allegedly diverted funds from whisky maker United Spirits.

(Additional reporting by Swati Bhat and Sudipto Ganguly in Mumbai, Alan Baldwin in and Sanjeev Miglani in New Delhi; Editing by Andrew Roche)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Vijay Mallya granted bail in London extradition hearing

MUMBAI/NEW DELHI (Reuters) - Flamboyant businessman Vijay Mallya, pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines, was arrested in London on Tuesday and appeared in court for an extradition hearing.

By Devidutta Tripathy and Douglas Busvine

MUMBAI/(Reuters) - Flamboyant businessman Mallya, pursued by Indian authorities over unpaid loans tied to his defunct Airlines, was arrested in on Tuesday and appeared in for an extradition hearing.

A source close to said he attended a police station voluntarily and the was a technical procedure. Mallya, 61, was arrested on behalf of the Indian authorities over accusations of fraud and appeared in Westminster Magistrates' Court, British police said.

Television channels said he was granted bail at the hearing.

Mallya, in a message on Twitter, called the of his "usual Indian media hype".

had asked Britain to extradite to face trial after the liquor and aviation tycoon fled there last March after banks sued to recover about $1.4 billion that Indian authorities say owes.

has repeatedly dismissed the charges against him and defended himself in messages on Twitter. On January 28 he said that "not one rupee was misused".

A spokesman for India's foreign ministry said "the two governments are in touch" over India's extradition request.

and Britain have a mixed record on extradition, say legal experts. Some cases have collapsed when evidence fell short of the standard of "dual criminality", or actions that amount to a crime in both countries.

"The usually focuses on whether there is sufficient evidence of criminality to extradite someone," said Andrew Smith, a partner at law firm Corker Binning.

"needs to show a prima facie evidential case against this man."

Television channel CNN News18 said a team of Indian law enforcement officials would visit to begin work on the extradition. The Central Bureau of Investigation did not immediately comment.

co-owns the Force Formula One team. He has a base in and a country home bought from the father of triple Formula One world champion Lewis Hamilton.

India's top brewer, United Breweries, part-owned by global giant Heineken, this year asked Mallya, its non-executive chairman, to step down from the board, following a regulatory order. United Breweries was not immediately available to comment after Tuesday's development.

India's capital markets regulator has barred from participating in the securities market for having allegedly diverted funds from whisky maker United Spirits.

(Additional reporting by Swati Bhat and Sudipto Ganguly in Mumbai, Alan Baldwin in and Sanjeev Miglani in New Delhi; Editing by Andrew Roche)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard
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Vijay Mallya granted bail in London extradition hearing

By Devidutta Tripathy and Douglas Busvine

MUMBAI/(Reuters) - Flamboyant businessman Mallya, pursued by Indian authorities over unpaid loans tied to his defunct Airlines, was arrested in on Tuesday and appeared in for an extradition hearing.

A source close to said he attended a police station voluntarily and the was a technical procedure. Mallya, 61, was arrested on behalf of the Indian authorities over accusations of fraud and appeared in Westminster Magistrates' Court, British police said.

Television channels said he was granted bail at the hearing.

Mallya, in a message on Twitter, called the of his "usual Indian media hype".

had asked Britain to extradite to face trial after the liquor and aviation tycoon fled there last March after banks sued to recover about $1.4 billion that Indian authorities say owes.

has repeatedly dismissed the charges against him and defended himself in messages on Twitter. On January 28 he said that "not one rupee was misused".

A spokesman for India's foreign ministry said "the two governments are in touch" over India's extradition request.

and Britain have a mixed record on extradition, say legal experts. Some cases have collapsed when evidence fell short of the standard of "dual criminality", or actions that amount to a crime in both countries.

"The usually focuses on whether there is sufficient evidence of criminality to extradite someone," said Andrew Smith, a partner at law firm Corker Binning.

"needs to show a prima facie evidential case against this man."

Television channel CNN News18 said a team of Indian law enforcement officials would visit to begin work on the extradition. The Central Bureau of Investigation did not immediately comment.

co-owns the Force Formula One team. He has a base in and a country home bought from the father of triple Formula One world champion Lewis Hamilton.

India's top brewer, United Breweries, part-owned by global giant Heineken, this year asked Mallya, its non-executive chairman, to step down from the board, following a regulatory order. United Breweries was not immediately available to comment after Tuesday's development.

India's capital markets regulator has barred from participating in the securities market for having allegedly diverted funds from whisky maker United Spirits.

(Additional reporting by Swati Bhat and Sudipto Ganguly in Mumbai, Alan Baldwin in and Sanjeev Miglani in New Delhi; Editing by Andrew Roche)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22