The self-proclaimed king of good times was arrested in London by Scotland Yard today because of embezzlement and fraud in India, but he was granted bail after a few hours.
Mr. Mallya, the owner of Kingfisher Airlines and former chairman of united spirits had fled to the United Kingdom in early 2016. His airline had collapsed in 2012 but despite this, he continued to have a lavish lifestyle. The employees of the airline had to go without pay for months. Mr. Mallya’s company had taken numerous loans from state owned banks in India and had not returned them. There are allegations of fraud and illegal fund diversions in his aircraft company. Neetu Shukla, a former Kingfisher employee reacted to the news of Mallya’s arrest, and said, “Very happy, will be even happier the day we are paid our dues and get justice.
The Modi government was quick to take the credit for arresting the defaulter in London and sending a strong message across the masses that corruption will be dealt with seriously. The slogan of fight against corruption was used by the present government during the elections campaign. The government had been blamed for letting the tycoon flee the country when CBI had started investigations and the central bank had pressured him to return the loan. The government officials are now showing their strong resolve against defaulters by chasing them even to their safe heavens. The Indian government is in talks with the United Kingdom and is on the same page to stop this negative trend of fleeing to foreign countries after fraud.
After the bail the business tycoon took to the twitter to try wave off the action by quoting it as usual media hype. Mr. Mallya’s Indian Passport has already been revoked by the Indian Government but he had prior rights of long term stay in the United Kingdom. The government was looking for deportation but due to his right of extended stay, they now must go on to the lengthy procedure of extradition. The court proceedings for extradition are set to start on May 17th.