London, Oct 03 (ANI): Absconding liquor baron Vijay Mallya was granted bail within hours after he was arrested in London on Tuesday on a fresh charge of money laundering brought by the Indian government. Produced before Westminster Magistrates' Court, Mallya was released on a bond of 60,000 and will appear in court for next hearing on November 20, 2017. His actual extradition hearing is scheduled on December 04. The 61-year-old, who was once called the 'King of Good Times' for his extravagant lifestyle, has been staying in the UK for over a year after he was accused of defaulting on loans worth thousands of crores in India.