Vijay Mallya Granted a Quick Bail After His Arrest

Previous liquor baron Vijay Mallya has been granted quick bail after his arrest in London in money laundering case. The details are awaited but according to Times Now, the arrest may be procedural and a bail order may be in place.

Mallya has been refusing accusations by investigation agencies that he diverted most of the Rs 6,000 crore borrowed from a State Bank of India-led consortium of lenders as fabricated and baseless. This is the second arrest this year. He was arrested in April and was granted bail.

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CBI and the Enforcement Directorate, in their yet-to-befiled chargesheet, said the funds were allegedly laundered to shell companies in half a dozen countries.

Mallya, who fled to the UK from India in March 2016, said in January that the allegations of fund diversion were a ‘joke’ and he was getting used to “witch hunts coming from all directions with no legal basis whatsoever.”

With the current allegations, Mallya may find the going tough when his extradition case comes up for hearing in December.

“He can say whatever he wants, but ours is a watertight case,” said a senior official privy to the development.

Inspective agencies (including the CBI and the ED) recently completed the submission of probe evidence to the British Crown Prosecution Service.

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