Vijay Mallya, former owner of the Royal Challengers Bangalore franchise, was arrested, and later granted bail, in the United Kingdom on Tuesday following an extradition warrant from Indian authorities.
The extradition process starts with the judge deciding on whether to issue a warrant of arrest.
Metropolitan Police said Mallya, 61, was taken into custody after attending a central London police station. "It was a voluntary action". The Westminster Magistrate's court granted Mallya bail on some stringent conditions, instructing "neither he can apply for travel documents nor attempt to leave the UK". But sources close to Mallya says that it was a voluntary arrest and within hours, the court granted him bail.
Authorities in India want the business tycoon, claiming he owes an estimated £900million following the collapse of Kingfisher Airlines.
Mallya has repeatedly dismissed the charges against him and defended himself in messages from his personal account on social media.
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The UK Crown office, acting on the Indian request, will argue Indian authorities' case for Mallya's extradition and he will have a chance to oppose it.
Last month, the United Kingdom told India that its request had been certified by the Secretary of State. A CBI court had issued a non-bailable warrant against Mallya in a Rs 720-crore IDBI loan default case in January. He also has a stake in India's only Formula One auto racing team, Force India. However, he was granted bail within three hours of his arrest.
The UK Home Office declined to comment on "individual cases" but said that Mallya's case will be handled under Part 2 of the UK's Extradition Act 2003. And lastly, the magistrate made a decision to grant him bail instead of remanding him in custody on a bond of £650,000.
Former CBI Director Anil Sinha said the arrest of Vijay Mallya was a "success" of law enforcement agencies and that efforts to bring him back would "fructify".
Mallya's extradition case has been adjourned as the next hearing is expected to take place on May 17.

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