Vijay Mallya gets bail in London

October 03, 2017 17:54

Former liquor baron Vijay Mallya has been granted immediate bail after his arrest in London in money laundering case.

Mallya has been rejecting allegations 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.

The Central Bureau of Investigation 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 the allegations of fund diversion were a joke and that he was getting used to witch hunts coming from all directions with no legal basis whatsoever.

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

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