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UK Court Gives A Rude shock To Vijay Mallya
By: Tupaki Desk | 13 Jan 2021 8:33 AM GMT
Fugitive businessman Vijay Mallya, who is facing charges of money laundering faced a rude shock, after a Court in the United Kingdom denied permission to the request he made.
He moved a UK court to seek directives to grant him access for a substantial sum which are being held by the Court Funds Office (CFO), in connection with the bankruptcy proceedings against him.
The judge at the Insolvency and Companies Court at the High Court in London, hearing the petition filed by Mallya said the funds cannot be released as he failed to submit the required information.
The only relief, Vijay Mallya got was, the judge permitted the allotment of funds so that he can meet the expenses of the appeal, to which he has to pat the amount by Wednesday.
Vijay Mallya is facing charges of defrauding a consortium of Indian banks for an amount of more than 9,000 crore. Back in 2018, the consortium of the Indian banks led by the State Bank of India(SBI) started the bankruptcy proceedings against Mallya.
Since then, efforts are underway to extradite him back to India. His extradited was also ordered by a court in the UK, but the order was kept on hold by the UK High Court in April 2020.
He moved a UK court to seek directives to grant him access for a substantial sum which are being held by the Court Funds Office (CFO), in connection with the bankruptcy proceedings against him.
The judge at the Insolvency and Companies Court at the High Court in London, hearing the petition filed by Mallya said the funds cannot be released as he failed to submit the required information.
The only relief, Vijay Mallya got was, the judge permitted the allotment of funds so that he can meet the expenses of the appeal, to which he has to pat the amount by Wednesday.
Vijay Mallya is facing charges of defrauding a consortium of Indian banks for an amount of more than 9,000 crore. Back in 2018, the consortium of the Indian banks led by the State Bank of India(SBI) started the bankruptcy proceedings against Mallya.
Since then, efforts are underway to extradite him back to India. His extradited was also ordered by a court in the UK, but the order was kept on hold by the UK High Court in April 2020.
