There is good news for all IPL fans as the BCCI is set to welcome two of it's oldest franchises
Breaking News Coming In From RCB Camp Right Before Their Clash Against Gujarat Lions
Vijay Mallya, the former owner of Royal Challengers Bangalore cricket team had been arrested in London before getting bail withing three hours of his arrest. India had earlier requested UK on several occasions to extradite Mallya, who is facing charges of money laundering and several arrest warrants in the country.
A week back, one of the Delhi courts had put out an open-ended non-bailable warrant against the former owner of UB groups, in a case of alleged violation of foreign exchange rules.
Last year, many banks had attempted to take legal actions against Mallya, who left the country following the collapse of his Kingfisher Airlines venture. The Indian capital city has also canceled Vijay Mallya’s passport and asked the UK government to send him back, in order to serve justice.
Also known as the ‘King of good times’, Mallya has been charged with cheating and conspiracy by the CBI that filed a 1,000-page charge sheet against him for defaulting on a 900-crore loan taken from the IDBI bank in 2009.
The RCB franchise was bought by him for Rs 476 crore in 2008. The Bangalore franchise is totally owned subsidiary of United Spirits Limited (USL), of which Mallya had been chairman and non-executive director, till he resigned from his post last year. The franchise is currently owned by the United Spirits and controlled by Diageo.
The extradition process from the UK involves a number of steps including a decision by the judge whether to issue a warrant of arrest. In -case of a warrant, the person is arrested and brought before the court for preliminary hearing followed by an extradition hearing before a final decision is taken by the secretary of state.
Interestingly, RCB-led by Virat Kohli, will take the field today against Gujarat Lions in a high voltage contest at Saurashtra cricket association stadium.
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