Erstwhile liquor baron Vijay Mallya was today arrested by the Scotland Yard and later released on bail. India had given a formal extradition request for Mallya as per the extradition treaty between India and the UK on February 8.
The Scotland Yard confirmed this news in its statement which read that the arrest was "On behalf of the Indian authorities in relation to accusations of fraud." Mallya himself tweeted about this and tried to downplay the proceedings.
His tweet read, "Usual Indian media hype. Extradition hearing in court started today as expected."
Watch CNBC-TV18's Shereen Bhan discuss what the arrest means and the road ahead for Mallya's extradition with Satish Maneshinde Senior Criminal Lawyer, Ramesh Vaidyanathan Managing Partner Advaya Legal, Subramanian Swamy MP - RS, BJP and Mahesh Jethmalani Senior Advocate, SC.
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