The British authorities had recently started the legal process to extradite Mr.Mallya to India. However, it is not certain if the legal process would culminate in his return to India to face charges as India-U.K. Extradition Treaty allows a wanted person to seek several guarantees before being extradited.
The liquor baron , who owns the world's largest beverages group has defaulted on a loan owing to the decline of the now extinct Kingfisher airlines. He had offered the banks a consortium of around Rs.4000 crores , out of Rs.9000 which the airlines had defaulted.
More news awaited after further reports are being released by the British authorities.
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