Vijay Mallya with Chris Gayle and Virat Kohli during IPL 2013 © BCCI
Vijay Mallya, former owner of the Royal Challengers Bangalore franchise, was arrested, and later granted bail, in the UK on Tuesday following an extradition warrant from Indian authorities.
The warrant in the UK was issued in relation to accusations of fraud surrounding his failed Kingfisher Airlines company, which is reported to owe banks over a billion dollars. Mallya had his passport revoked by the Indian government last year and has been living in the UK in what he termed “forced exile” in an interview with the Financial Times last May.
He was arrested at a central London police station on Tuesday and appeared at Westminster Magistrates’ Court, where he was granted bail for £650,000.
“Officers from the Metropolitan Police’s Extradition Unit have this morning, Tuesday 18 April arrested a man on an extradition warrant,” a police statement said. “Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud.”
United Spirits Limited, part of Mallya’s UB Group, had purchased the franchise in 2008 for $111.6 million, making it the most expensive in the league after Mumbai Indians. In 2012, Mallya sold a controlling stake in United Spirits to global liquor giants Diageo. In March 2016, Mallya stepped down as director of the Royal Challengers Sports Pvt Ltd (RCSPL), the Diageo-owned subsidiary which runs the IPL franchise. He was replaced by Amrit Thomas as head of the Royal Challengers franchise.
Royal Challengers are yet to win an IPL title, but have finished runners-up in three seasons of the tournament – 2009, 2011 and 2016.
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Source: ESPN Crickinfo