Force India team owner Vijay Mallya has been arrested in London.

The 61-year-old was arrested on behalf of the Indian authorities in relation to accusations of fraud, a statement from the Metropolitan Police confirmed. He was subsequently bailed.

India had asked Britain to extradite Mallya to face trial after the liquor and aviation tycoon fled there last March after banks sued to recover about $1.4 billion that Indian authorities say the now defunct Kingfisher Airlines owes.

Mallya has repeatedly dismissed the charges against him and defended himself in messages from his personal account on social media network Twitter.

An India-based spokesman for Mallya's UB Group did not comment immediately.

Indian television channel CNN News18 reported that Mallya was arrested by Scotland Yard and a team of Indian law enforcement officials would visit London to begin work on his extradition.

India's foreign ministry and its federal police, the Central Bureau of Investigation, were not immediately available for comment.