Vijay Mallya gets bail shortly after being arrested by London's Scotland Yard

New Delhi: Beleaguered businessman Vijay Mallya was on Tuesday arrested by the Scotland Yard marking the first first step to his extradition in India. He was released on bail three hours after arrest. Mallya will be appearing in Westminster Magistrates' Court in London. A team of CBI will be visiting London to expedite the extradition process. Soon after getting bail Mallya tweeted, "Usual Indian media hype. Extradition hearing in Court started today as expected."

Usual Indian media hype. Extradition hearing in Court started today as expected.

— Vijay Mallya (@TheVijayMallya) April 18, 2017

STATEMENT OF SCOTLAND YARD Officers from the Metropolitan Police's Extradition Unit have this morning, Tuesday 18 April arrested a man on an extraction 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. In March this year, the British government sent India's extradition request to a district judge. Unpaid loans of over Rs 9,000 crore by his now defunct Kingfisher airlines made him flee to the UK on March 2 last year. He has been defying court orders even as as the Supreme Court ordered him to appear before it in person with his passport on March 30, 2016. A formal extradition request by India was handed over to the British government to bring back Mallya under the India-UK extradition treaty. The Brits have India in category 2 countries which means the process will be longer. In January this year, a non-bailable warrant issued by CBI court against the beleaguered businessman in the Rs 720-crore IDBI Bank loan default case. BJP government had been facing severe criticism for handling the Mallya case and not being able to stop him from fleeing. PM Narendra Modi last year in a rally said his government has tightened the screws on the bank defaulters “You know how the rich have gobbled up people's money. My government has tightened the screws on the bank defaulters. They are fretting as they will be jailed and in the fear have fled. But I assure you no one will be spared I am telling you. “The money looted from the banks does not belong to the banks but to the poor people of the country and I will ensure that those who looted this money return each and every paise… they have looted the country,” he added.