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London [UK], January 13 (ANI): Fugitive businessman Vijay Mallya has been denied access by a UK court to a significant chunk of his cash held by the UK court funds office as part of the wider bankruptcy proceedings against him launched by a consortium of Indian banks. A judge at the Insolvency and Companies Court at the High Court in London refused to release the funds, saying that Mallya had failed to provide the necessary information to permit the release of the funds. Judge Sebastian Prentis however, agreed to allow sufficient funds to Mallya to cover an appeal he is expected to file against the refusal on Wednesday (January 13).
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UK High Court refuses to release money for Vijay Mallya
Fugitive businessman Vijay Mallya has been denied access by a UK court to a significant chunk of his cash held by the UK court funds office as part of the wider bankruptcy proceedings against him launched by a consortium of Indian banks. A judge at the Insolvency and Companies Court at the High Court in London refused to release the funds, saying that Mallya had failed to provide the necessary information to permit the release of the funds.
Judge Sebastian Prentis however, agreed to allow sufficient funds to Mallya to cover an appeal he is expected to file against the refusal on Wednesday (January 13).
Vijay Mallya denied permission to appeal in UK bankruptcy case
By Mansoor| Published: 13th January 2021 7:34 pm IST
London: Liquor tycoon Vijay Mallya was on Wednesday denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India (SBI), in their pursuit of debt related to his now-defunct Kingfisher Airlines.
The 65-year-old businessman, who remains on bail in the UK, had filed a renewed application to appeal against UK court orders in the case from last year, which had allowed for an adjournment of bankruptcy proceedings until the debt issue before the Supreme Court in India was decided upon.
Vijay Mallya denied permission to appeal UK court order
PTI/London
(Alamy)
British High Court refuses to dismiss bankruptcy proceedings against the Indian businessman
Liquor baron Vijay Mallya was on Wednesday was denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India (SBI), in their pursuit of debt related to his now-defunct Kingfisher Airlines. The 65-year-old businessman, who remains on bail in the UK, had filed a renewed application to appeal against UK court orders in the case from last year, which had allowed for an adjournment of bankruptcy proceedings until the debt issue before the Supreme Court in India was decided upon.