Vijay Mallya: India tycoon faces new money-laundering charges

Indian drinks tycoon Vijay Mallya, who is charged with committing fraud in India, has been re-arrested in London for new money- laundering charges

He appeared at Westminster Magistrates’ Court on Tuesday afternoon, after India issued new charges of money-laundering against him.

Mr Mallya denies any wrongdoing. The allegations are linked to the collapse of his airline, Kingfisher.

The 61-year-old left India in March 2016 more than $1bn (£755m) in debt, after defaulting on bank loan payments.

He was released on police bail after the hearing.

Mr Mallya’s monetary affairs are being investigated by India’s Central Bureau of Investigation, and the Enforcement Directorate – which handles financial crimes.

He was originally arrested and bailed in April after India asked for his extradition in February.

The mogul has rejected claims that he fled his home country over circling creditors, saying outside court: “I have not eluded any court. If it is my lawful duty to be here, I’m happy to be here.”

Mr Mallya is a flamboyant figure previously dubbed “India’s Richard Branson” and the “King of Good Times” for his lavish lifestyle.

He built his fortune from Kingfisher beer, before branching out into Indian cricket and Formula 1 racing.

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