The sources said that the five-member team, comprising three officials from the Central Bureau of Investigation and two of the ED, had left for London on Monday.
They said the team would push for the extradition of Mr Mallya, who fled to Britain in March 2016 after being pursued for recovery of Rs 8,191 crore he owed to a consortium of Indian banks by his now defunct Kingfisher Airlines.
The government has said that its agencies were making their best efforts to have Mr Mallya face trial in India.
The Indian government had in February this year, handed over to British authorities a formal request for Mr Mallya's extradition, saying it had a legitimate case against him on charges of financial irregularities and loan default.
Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.