India to bring back debt-ridden businessman from London to face law

Indian Information and Broadcasting Minister Venkaiah Naidu said Wednesday that the government would take all measures to bring back Vijay Mallya, a defaulting businessman, from London to face law.

"The government will take all necessary steps to get Vijay Mallya back to India and put him before the law," Naidu told the media in New Delhi.

Mallya fled India last year after defaulting bank loans worth billions of U.S. dollars and is currently staying in London.

On Tuesday, he was arrested by Scotland Yard and produced at a metropolitan court. However, he secured the bail immediately and was out of police custody.

India has asked Britian to extradite Mallya who is facing charges of money laundering and ignoring arrest warrants from courts.

Last year, a local court in India declared the indebted businessman as proclaimed offender for his financial crimes.

Mallya, after fleeing from India, was in London and was ignoring series of orders to return to India to face creditors and cooperate in investigations.

New Delhi has revoked Mallya's passport and formally sought his extradition from the British government last year. However, Britain then made it clear that it cannot deport Mallya because he had entered their country on a valid passport.

The flamboyant businessman was an independent lawmaker at the upper house of the Indian parliament and resigned following his escape from the country.

Mallya, the former head of collapsed Kingfisher Airline and liquor baron, is wanted in India for over a billion dollars in unpaid loans.

Mallya made his fortune selling beer and subsequently invested in aviation and sporting arenas including Formula One racing and Indian Premier League cricket.

Media reports said his debts were mainly incurred by the failure of his airline. Endit