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Beginning Of The End Of Good Times? UK Court Asks Mallya To Compensate Indian Banks For Legal Proceedings Against Him
New blow to Vijay Mallya. (Scott Heavey/Getty Images)
It’s not good news for Vijay Mallya. The UK High Court has ordered him to compensate 13 Indian banks for the legal proceedings, which they are pursuing against him, as this report in Jansatta says. The court has asked him to pay at least 2 lakh pounds to the banks, which at the present exchange rate is around Rs 1.8 crore.
These are the banks, which are fighting legal battles to recover their dues from Mallya, who has fled to the United Kingdom.
This comes after Judge Andrew Henshaw, in May, had upheld ‘an Indian court’s order that entitled the consortium of 13 Indian banks to recover dues from Mallya amounting to around 1.145 billion pounds’, as this Indian Express report says.
In addition to the above, Mallya is also fighting an extradition case in the UK. While he is currently enjoying a bail on the extradition warrant, according to the Jansatta report, the final hearing on the case is likely to be held on 31 July.
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