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Setback For Vijay Mallya; UK Court Issues Consortium Order To Recover Funds

Thu, Jul 05, 2018, 09:46 PM
It is a big setback for beleaguered liquor baron Vijay Mallya as a UK High Court judge has issued an enforcement order in favour of a consortium of 13 Indian banks, seeking to recover funds owed to them. The verdict will allow the UK High Court Enforcement Officer to enter his properties in Hertfordshire, near London. It is an indication that there will be a resolution to the entire problem. It is to be mentioned that Vijay Mallya is fighting extradition to India on fraud and money laundering charges worth nearly Rs 9,000 crore.
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