Former FMSCI chairman Vijay Mallya arrested in London

A brief statement on Mr Mallya's Twitter account said: "Usual Indian media hype". "It's part of the judicial process in that country and the judicial process functions on certain considerations", he said in response to queries regarding Mallya's extradition.

The 61-year-old flamboyant businessman has been announced a proclaimed offender by India, was arrested when he appeared at a police station in central London on Tuesday morning.

A Metropolitan Police statement said officers from the Extradition Unit arrested Mallya on an extradition warrant from India. "Vijay Mallya was arrested on behalf of the Indian authorities in relation to accusations of fraud", Scotland Yard told news agency PTI.

Royal Challengers are yet to win an IPL title, but have finished runners-up in three seasons of the tournament - 2009, 2011 and 2016.

In April 2016 India revoked Mallya's passport, and began seeking his extradition from the United Kingdom the following month.

According to the British extradition procedure, India's request was certified by British Home Secretary Amber Rudd on February 21 and sent to the Westminster Magistrate's court for issuing a warrant of arrest, which was executed on Tuesday.

Mallya owes Indian banks Rs 9,000 crore after his aviation company Kingfisher Airlines shut operations due to rising losses.

At a preliminary hearing at Westminster Magistrates' Court later on Tuesday, Mallya was released on conditional bail, with the case adjourned until May 17.

A day after Vijay Mallya was arrested in London, Union Minister M.

The conditional bail has been granted after taking Rs 5.4-crore bond and under stiff terms, as is the case with most 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.

His arrest came after a Delhi court had issued an open-ended non-bailable warrant against Mallya in connection with the 1995 FERA violation case.

Holding that Mallya's arrest in London by Scotland Yard today was in connection with the request by the government to the United Kingdom authorities for his extradition, external affairs ministry spokesperson Gopal Baglay said legal process in this regard is underway in the UK.

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