Troubled businessman Vijay Mallya was arrested today in London by Scotland Yard. The Indian authorities have been on the lookout for Mallya from the time he escaped the country on March 2 last year. Mallya was arrested under an extradition warrant issued by the Indian authorities. However, he was granted bail within three hours of his arrest.
Vijay Mallya has been wanted for charges of money laundering in addition to defaulting loans worth Rs 9,000 crore. Mallya has been a known personality in the Indian motorsport scene. He was the honorary chairman at FMSCI. However, he was stripped of his position in January this year owing to the different allegations and charges. He is also the managing directorof the Force India F1 team.
Akbar Ebrahim, president, FMSCI told OVERDRIVE that Mallya was an honorary chairman and he was removed from that position early this year. He further added that the motorsports body has left the chairman's position vacant and will take a call on it at a later stage.