Businessman and loan defaulter Vijay Mallya was arrested on Tuesday by Scotland Yard. He was arrested on an extradition warrant by India. He will be produced before the Westminster Magistrates' Court. It is also reported that Vijay Mallya was later granted bail. It is to be mentioned that Mallya who arrived in London last year and had his passport revoked afterward, is wanted in India for defaulting on loans worth around Rs 9,000 crore related to Kingfisher Airlines that was grounded in 2012.