Owner of Indian Premier League franchise Royal Challengers Bangalore Vijay Mallya was arrested by the Metropolitan Police in London on Tuesday “on behalf of the Indian authorities in relation to accusations of fraud”, BBC reported.
India has been pushing for the extradition of Mr Mallya, who faces charges of financial irregularities at his defunct Kingfisher Airlines.
Mr Mallya also owns Force India, a Formula One racing team. He is said to owe banks £600m but has denied any wrong doing.
He is due to appear at Westminster Magistrates’ Court later on Tuesday.