Govt revokes passport of tycoon who owes $1b

India on Sunday revoked the passport of a flamboyant Indian businessman accused of fleeing to London in March while owing more than a $1 billion to Indian banks.

External Affairs Ministry spokesman Vikas Swarup said the decision to revoke Vijay Mallya's passport was taken considering the evidence gathered by India's Enforcement Directorate, which has been investigating the tycoon's massive debts.

The ministry was also consulting legal experts on seeking Mallya's deportation from the UK to face charges of money laundering and financial irregularities.