Bankrupt Vijay Mallya gets tweak, no permission to appeal against UK High Court

- British court refuses to quash bankruptcy proceedings

London, Ta. Thursday, January 14, 2021

Vijay Mallya, a liquor tycoon who fled the country after laundering crores of rupees, was not allowed to appeal against an order of the British High Court on Wednesday, which refused to quash the bankruptcy proceedings initiated in connection with the closed Kingfisher Airlines loan.

The bankruptcy proceedings were initiated by a group of Indian banks led by State Bank of India. The 65-year-old businessman, who is out on bail in the UK, has filed a new appeal against the UK High Court's order. In which the Supreme Court of India granted leave to adjourn the bankruptcy proceedings till a decision is taken in the debt case.

Mallya's lawyer, Philip Marshall, argued that the bankruptcy petition of the banks was not only postponed, but wanted to be canceled because the loan was disputed. And this is being deliberately dragged out in Indian courts. "This is a new issue at the moment," Justice Colin Birs said during an appeals hearing in a London court. I will not accept this as a reasonable basis for appeal. Because the matter can be settled during the hearing. Which is currently issued.

Mallya's lawyers raised the issue of misuse of the process by the bank in relation to alleged undeclared securities in India. However, the judge said that this has already been canceled. Thirteen banks, led by State Bank of India (SBI), have filed bankruptcy cases against Vijay Mallya. In this regard, Vijay Mallya's assets of about 29 29 million are deposited in the Court Funds Office (CFO).