King of Good times fallen upon bad times

London: Indian businessman Vijay Mallya, who has been pursued by authorities over unpaid loans tied to his now defunct Kingfisher Airlines, was arrested in London today, the Metropolitan Police said in a statement. Mallya, 61, was arrested on behalf of the Indian authorities in relation to accusations of fraud and will be presented in Westminster Magistrates Court later today, the statement added. However, till the report was filed he got the bail.

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