18/04/2017
NEWS STORY
Force India co-owner Vijay Mallya has been arrested in London, according to the Metropolitan Police.
A brief statement issued by the Metropolitan Police this morning read:
"Officers from the Metropolitan Police's Extradition Unit have this morning, Tuesday 18 April arrested a man on an extradition warrant.
Vijay Mallya, 61 (18/12/1955), was arrested on behalf of the Indian authorities in relation to accusations of fraud.
He was arrested after attending a central London police station, and will appear at Westminster Magistrates' Court later today, 18 April."
Authorities in India have been seeking Mallya's extradition for some time, the billionaire facing numerous charges of financial irregularity at, the now defunct, Kingfisher Airline.
While he denies any wrongdoing, Mallya is claimed to owe banks around £600m ($1bn).
Due to his situation, Mallya has made few appearances in the F1 paddock in recent years, usually only attending the British and Monaco events.