On run tycoon charged again

AN Indian tycoon dubbed the ‘King of Good Times’ has been arrested over allegations of money-laundering.

Vijay Mallya, 61, was re-arrested yesterday on behalf of Indian authorities over allegations he supported his Formula One team Force India with laundered cash.

The Indian government has accused Mallya of fleeing to the UK to avoid arrest in relation to £1bn of unpaid debts following the collapse of Kingfisher Airlines, which he owned, in 2012.

He was first arrested in April following the Indian’s government request for his extradition, but was granted conditional bail.

Mallya denied the charges and was released on bail after a brief appearance at Westminster magistrates’ court.