Court Grants Access To Vijay Mallya's UK Properties

July 05, 2018 18:07
Court Grants Access To Vijay Mallya's UK Properties

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Court Grants Access To Vijay Mallya's UK Properties:- Billionaire liquor baron Vijay Mallya has been residing in UK after he owes over Rs 9000 crores to Indian banks. The businessman has been absconding and never responded on appearing before Indian courts. Now a UK High Court judge issued an enforcement order today in favour of a consortium of 13 Indian banks led by State Bank of India. The court granted permission to enter into the properties of Vijay Mallya located in Hertfordshire, London.

The court permits the officer and his agents to enter Ladywalk and Bramble Lodge in Tewin, Welwyn where Mallya's properties are based. However the court did not grant any permission to recover the funds that Vijay Mallya owes to Indian banks.They may take control of the goods belonging to Vijay Mallya. This is the first victory by Indian banks against Vijay Mallya. The ace businessman recently penned a letter to Indian Prime Minister Narendra Modi that he would return back to India before which he would clear all the dues.

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Vijay Mallya  UK High Court