A new hurdle to the banks winning the case in the British court against Mallya ~ Mr-Khand News and Knowledge

A new hurdle to the banks winning the case in the British court against Mallya

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A new hurdle to the banks winning the case in the British court against Mallya

The new hurdle faced by the winning banks in the UK court against Vijay Mallya
Finding Mallya's Properties in the UK is New Challenge for the Bank
Mallya has continued to tell his properties in the UK
The nature of ownership of properties of Mallya is complicated

Naomi Canton, London

Indian banks may have won the case in the UK High Court against Kingfisher Airlines founder Vijay Mallya, but there are further obstacles to the banks. It is notable that during the hearing on Tuesday, the court's judge said that Indian court's decisions against Mallya could be legally applicable to their properties in England and Wales. It is said in this judgment that Vijay Mallya has a bank loan of more than Rs 9,000 crore.

High Court enforcement officials can now raise debt from their properties located in England and Wales. Our associate Times of India has received the court documents saying that due to the ambiguous and intriguing nature of Mallya properties in Britain, due to the ownership of the property, to find out whether they have assets or not, Is the effort.

In a request submitted to the court by Nigel Toji QC, representing banks in London High Court, it has been said, "People believe that Mallya has become the owner of properties in the UK through a network of intangible ownership. He has not given clear explanation about his properties even after pressuring him.

Mallya may ask for permission to file a petition in Court of Appeal against the court's decision. They can get permission if the court has considered that there is a scope for success in their appeal or there is definitely no reason to hear it.

It is notable that the High Court has said that Indian liquor baron Vijay Mallya can be termed as 'runaway from law'. The industrialist, who is involved in the crisis, is facing cases of fraud and money laundering in India. High Court Judge Andrew Hanshaw took note that Mallya is opposing extradition of India for 'financial mess'.