scorecardresearch
Follow Us:
Sunday, January 17, 2021

Vijay Mallya ordered to pay 200,000 pounds to Indian banks by UK High Court

Alongside the debt recovery case, Mallya is also fighting an extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crores.

By: Express Web Desk | Updated: June 16, 2018 7:24:24 pm
Vijay Mallya, Vijay Mallya India, PMLA case, Money laundering, Vijay Mallya PMLA, Government, Kingfisher airlines, F1 Force India team boss Vijay Mallya has to leave the building after an alarm inside went off, before the start of his case on the first day of his extradition case at Westminster Magistrates Court in London, Monday, Dec. 4, 2017. Mallya, the United Breweries Group chairman and co-owner of the Force India F1 team is wanted in India to face fraud allegations. (AP Photo/Matt Dunham)

Embattled liquor baron Vijay Mallya has been directed to pay a minimum of 200,000 pounds towards the costs incurred by 13 Indian banks by the UK High Court, reported PTI.

On May 8, Judge Andrew Henshaw upheld an Indian court’s order that entitled consortium of 13 Indian banks led by State Bank of India, to recover dues from Mallya amounting to around 1.145 billion pounds.

“The First Defendant’s (Mallya) application for permission to appeal is refused. Any further application for permission to appeal should be made to the Court of Appeal to be dealt with by a judge of that court,” the judgment notes.

The UK high court further ordered the 62-year-old tycoon to pay costs towards registration of the worldwide freezing order and of the Debt Recovery Tribunal (DRT) of Karnataka’s judgment in Britain.

The consortium of 13 Indian banks which have been entitled to recover their dues from Mallya are, State Bank of India, Bank of Baroda, Corporation Bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu and Kashmir Bank, Punjab and Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt Ltd.

Alongside the debt recovery case, Mallya is also fighting an extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crores. He has filed an appeal notice at the Court of Appeal, submitting an application for permission to appeal.

An appeal will only be granted in case the court considers that the said appeal would have a prospect of success or some other compelling reason for which the appeal should be heard.

The final hearing in the extradition case is likely to take place on July 31, which was earlier scheduled for July 11 at Westminster Magistrates’ Court.

Mallya remains on bail since his arrest on an extradition warrant in April 2017.

Crown Prosecution Service (CPS) representing the Indian authorities believes that there are no bars to Mallya’s extradition to face the Indian courts.

Meanwhile, Mallya’s defence lawyers have claimed that the criminal charges against their client are “without substance” and “politically motivated”. The defence has further raised a question on the conditions at Arthur Road Jail in Mumbai, where the business is likely to be held once extradited to India.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest India News, download Indian Express App.

0 Comment(s) *
* The moderation of comments is automated and not cleared manually by indianexpress.com.
Advertisement
Advertisement
Advertisement
Advertisement