Britain arrests Indian tycoon Mallya for extradition

Britain arrests Indian tycoon Mallya for extraditionIndian tycoon Vijay Mallya has been arrested in London following an extradition request from India where he is accused of fraud, British police said on Tuesday. The flamboyant financier, who co-owns Formula One team Force India, appeared in a London court on Tuesday and was granted bail. Mallya fled India in March 2016 owing more than $ 1 billion after defaulting on loan payments to state-owned banks and allegedly misusing the funds.



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