DH Latest NewsDH NEWSLatest NewsIndiaNEWSAirlinesInternationalTourismSpecialCrime

Fugitive businessman Vijay Mallya is declared bankrupt by UK court

A court in the United Kingdom declared fugitive businessman Vijay Mallya bankrupt on Monday. Now, a consortium of Indian banks, led by the State Bank of India, will be able to seek repayment of a debt owed by Vijay Mallya’s now-defunct Kingfisher Airlines.

‘I adjudicate Dr. Mallya bankrupt as of 15.42 [UK time],’ Chief Insolvencies and Companies Court Judge Michael Briggs said during a virtual hearing of the Chancery Division of the London High Court. It was argued by a consortium of Indian banks that the bankruptcy order should be granted in their favor. Attorney Marcia Shekerdemian and the law firm TLT LLP represented them.

Read more: ‘Director Kamal raped me at his official residence’: Woman’s revelation shocks Malayalam film industry

While Vijay Mallya remains on bail in the UK. He is 65 years old. A ‘confidential’ legal matter, possibly related to an asylum application, has yet to be resolved in connection with unrelated extradition proceedings.


Post Your Comments

Back to top button