NEW DELHI/ LONDON, Apr 18 (UNI) Fugitive liquor baron Vijay Mallya was arrested in London by the Scotland Yard today. He was taken to a a Westminster Magisterial Court and later granted bail. Facing charges of criminal conspiracy, cheating and loan default worth Rs 9000 crore, Mallya had fled to London on March 2 last year. He had taken loans from a string of banks, including leading public sector lenders like the State Bank of India, Corporation Bank and IDBI, but failed to repay. After his flight to London exactly a year ago, the National Democratic Alliance government had been pushing for his extradition. The request for his extradition was put up by the Central Bureau of Investigation (CBI) before a court which also issued a non-bailable warrant against him. The extradition request was sent to the authorities in the UK, through diplomatic channels. As promoter of Kingfisher Airlines which promised to usher in good times in civil aviation but went bankrupt within a few years of operation, Mallya not only defaulted on loan repayment but was also accused by the CBI of diverting the funds. Making light of charges against him, Mallya referred to his arrest in a tweet: ``Usual Indian media hype...extradition hearing in court started today as expected.' He has termed default on loan payment as a business decision gone wrong and has denied any wrongdoing. He also faces charges of money laundering by the Enforcement Directorate. Reacting to Mallya's arrest, Minister of State for Finance Santosh Gangwar termed it as a "part of the process" itself. "We are happy about the developments. This is only part of the process. We are doing our part to get any economic offender face the trial of justice," he told reporters in New Delhi. "Our government is firm about one thing. All wrong doers have to face the law. We are very sure about one thing, even if I am on wrong side, the law will not spare me," Mr Gangwar said. On attempts for extradition, he said, talks are on through bilateral channels and "we are hopeful of positive results". The NDA government had cancelled Mallya's passport last year and asked the UK government in February this year to extradite him. Mallya, a former Rajya Sabha member, was much talked about for his lavish parties, beauty pageants and extravagant lifestyle. Recently, his villa in picturesque coastal State of Goa was auctioned for Rs. 73 crores. As the process of extradition is a judicial one, the proceedings may take a long time before the competent court in the UK decides on India's request. Nadim of Nadim-Shravan music composer duo, facing charges of conspiracy in the murder of Bollywood's music baron Gulshan Kumar, was granted respite by a court in the UK which had rejected India's request for his extradition. UNI VT RP1820