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Indian tycoon Vijay Mallya faces new charges; free on bail

Associated Press
Published | Updated

LONDON – The Indian government has brought a new money-laundering charge against a prominent Indian tycoon who is fighting extradition from Britain.

Britain's Crown Prosecution Service said Vijay Mallya appeared in court Tuesday and was released on bail. He is due back in court on Dec. 4 for an extradition hearing expected to last eight days.

Mallya is the co-owner of the Force India Formula 1 team. He is wanted in India to answer money-laundering charges and bank demands that he repay more than 1 billion dollars in outstanding loans to his defunct airline.

Prosecutors said Tuesday the new charge was added to the existing charges Mallya faces at a brief case management hearing in Westminster Magistrates Court.

Mallya enjoyed a flashy lifestyle in India.