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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).
Mallya receives fresh blow as judge denies appeal to dismiss bankruptcy proceedings ANI | Updated: Jan 13, 2021 22:39 IST
By Poonam Joshi
London [UK], January 13 (ANI): The UKHigh Court today refused an appeal by the fugitive businessman Vijay Mallya to dismiss the bankruptcy petition brought by a consortium of banks which are attempting to recover the debts owed by Mallya s now-defunct Kingfisher Airlines in lieu of the loans granted to the airline.
In a major setback for the 65-year-old Mallya, Justice Birss of the Insolvency and Companies division of the UKHigh Court upheld an earlier ruling that the bankruptcy proceedings be halted in just the latest appeal by Mallya against the proceedings.
Press release content from Business Wire. The AP news staff was not involved in its creation.
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Read more about Mallya receives fresh blow as plea to halt bankruptcy proceedings rejected on Business Standard. Mallya s lawful group has said that the banks are "made sure about loan bosses" and subsequently ought not bring liquidation procedures
Mallya receives blow as judge denies to dismiss bankruptcy pakistantelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pakistantelegraph.com Daily Mail and Mail on Sunday newspapers.