Businessman Vijay Mallya has been granted bail three hours after he was arrested in London today following India's extradition request. According to the reports, Mallya was produced at the Westminster Magistrates' Court in London. The Court after hearing the case granted him conditional bail. The businessman had slipped out of India a year ago and has been in Britain since. The Indian government had canceled Mr. Mallya's passport and earlier this year. India had made an extradition request to Britain to send back the businessman to face trial alleging that he fled the country on March 2 last year, owing more than 9,000 crores to state-owned banks.