Vijay Mallya is wanted by Indian authorities over debts of more than $1bn linked to defunct Kingfisher AirlinesAn Indian beer baron known as the “King of righteous Times” is believed to have fled to Britain in an attempt to avoid arrest over alleged debts of $1bn (£700m). Vijay Mallya,the 60-year-old Kingfisher magnate, earned his title for his love of hosting yacht parties attended by Bollywood stars and Indian politicians.
His fortune has made him notorious in his domestic country, and where he sits in parliament. But according to local officials,he fled on 2 March, allegedly leaving $1bn in debts linked to a failed airline. The Enforcement Directorate (ED), or India’s financial crimes agency,is seeking his deportation. “We have been given enough indication that he is indeed in the UK,” a spokesman said. “We have written to the [Indian foreign] ministry for assistance in the deportation of Mr Mallya as the process would involve using diplomatic channels.”Continue reading...
Source: theguardian.com