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Indian tycoon Vijay Mallya arrested in UK on fraud charges
New Delhi, AP/BdChronicle:
British police say they have arrested Indian business tycoon Vijay Mallya in London on behalf of authorities in India, where he is wanted on charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline.
A statement from the Metropolitan Police in London says Mallya was arrested after appearing in a police station, and will appear in court later Tuesday.
India's Enforcement Directorate, now investigating the liquor baron's debts totaling 94 billion rupees ($1.45 billion), asked a New Delhi court last year to demand Mallya's presence during legal proceedings.
At the time, it said Mallya was not cooperating with investigators, and three times ignored their summons to give evidence.