A source close to Mallya said he attended a police station voluntarily and the arrest was a technical procedure. Following Mallya's arrest, the Scotland Yard issued a statement saying that the absconding businessman was arrested on behalf of the Indian authorities in relation to accusations of fraud.
Indian television channels said he was granted bail at the hearing. Yesterday, Mallya, while downplaying the din surrounding his sensational arrest in London, took a swipe at the Indian media.
Mallya fled to Britain in March 2016 after being pursued in courts by Indian banks seeking to recover Rs 8,191 crore owed by his now defunct Kingfisher Airline.
However, Congress tried to pin him on the Modi government when Mallya, taking advantage of the absence of an arrest warrant against him, left for London the day banks moved a tribunal for revocation of his passport.
On January 28 he said that "not one rupee was misused".
Mallya has been declared a proclaimed offender and there are multiple warrants pending against him in India in several cases including loan default and money laundering. Some cases have collapsed when evidence against the defendant fell short of the standard of "dual criminality", or actions that amount to a crime in both countries. "India needs to show a prima facie evidential case against this man". Senior officials of Ministry of Home Affairs said soon team comprising External Affairs Ministry, CBI and ED officers would visit London to co-ordinate with the Indian High Commission. "We will not take any such step which could make it appear that we are going against law, and we will not leave any offender who falls under Indian law", Gangwar pointed out.
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Minister of State for Finance Santosh Kumar Gangwar said, "We are now assessing the facts how we can bring him back into the country and start judicial proceedings against him".
Union Law Minister Ravi Shankar Prasad said India had put up a strong case against Mallya and ED is also preparing strategy to present the case for his extradition under the United Nations convention of prevention of money laundering, of which the UK is also a signatory.
Mallya was once known as the "King of Good Times" but dropped off India's most wealthy list in 2014, engulfed by the massive debts of his grounded carrier.
His huge debt has come to symbolise the problems which bad loans pose to Indian banks and to overall financial stability in Asia's third-largest economy.
The Enforcement Directorate in March and April 2016 issued a number of summons against Mallya to appear before it but he failed to do so.
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