Vijay Mallya was arrested on accusation of fraud said the Scotland Yard police. Officer of the Metropolitan Police's Extradition Unit have this morning, Tuesday 18 April arrested a man on an extraction warrant.
Vijay Mallya, 61 was arrested on behalf of the Indian authorities in relation to accusations of fraud, the statement also read. He was arrested after attending a central London police station, and will appear at Westminster Magistrates' Court later today, 18 April, the Scotland Yard also said.
Mallya had left India on March 2 2016 for London a few days after a consortium of 17 banks had moved the Debt Recovery Tribunal to recover dues of Rs 9,018 crore which was loaned to the now defunct Kingfisher airlines.
India had also through the CBI alerted the Interpol and said that it had followed all legal procedures to seek a red corner notice against him.
Mallya had made an offer to negotiate with the banks for a one time settlement before the Supreme Court. The banks had however rejected the same The banks had shot down Mallya's offer of Rs 6,868 crore in April 2016 to settle the dues.