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Mallya arrested in London

Mallya arrested in London

He also said that Mallya's arrest on Tuesday by Scotland Yard and his subsequent release on bail the same day shows it may not be easy to get him back here.

However, the flamboyant businessman, who once called himself "The King of Good Times", was released on bail within minutes.

A Metropolitan Police statement said officers from the Extradition Unit arrested Mallya on an extradition warrant from India. Mallya's is not the first case, as several such requests from the CBI and other Indian agencies are pending with authorities in the United Kingdom despite both countries having signed an extradition treaty way back in 1993, say officials.

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Metropolitan Police said Mallya, 61, was taken into custody after attending a central London police station. "It was a voluntary action". The Westminster Magistrate's court granted Mallya bail on some stringent conditions, instructing "neither he can apply for travel documents nor attempt to leave the UK". "Extradition hearing in Court started today as expected", he tweeted.

Santosh Gangwar, India's junior finance minister said the government would do everything in its power to bring Mallya to justice.

He had fled India on March 2, 2016 and has repeatedly dismissed the charges against him. Soon, Vijay Mallya was the most trending topic in India and third most worldwide.

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He has a base in London as well as a country home bought from the father of triple Formula One world champion Lewis Hamilton. However, he was granted bail within three hours of his arrest. "It's part of the judicial process in that country and the judicial process functions on certain considerations", he said in response to queries regarding Mallya's extradition.

Mallya's preliminary hearing before the Westminster magistrate's court will be followed by an extradition hearing. A CBI court had issued a non-bailable warrant against Mallya in a Rs 720-crore IDBI loan default case in January. The person facing extradition has the right to appeal to higher judiciary, including the Supreme Court there, against the decision.

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