The news is by your side.

UK court orders eviction of Vijay Mallaya from his London home

0 8

London: A UK court has ordered the eviction of fugitive Indian businessman Vijay Mallya and family from his posh London home. The decision has come as a major setback for the beleaguered businessman.

Mallya lives in London with his son Sidhartha and mother Lalitha. Swiss bank UBS will reportedly take possession of the luxury property Cornwall Terrace apartment that overlooks Regent’s Park in London.

The court’s judgment came in the case related to a refund of over 185 crore rupees that Mallya owes to UBS. The court agreed with the Swiss bank’s position that giving more time to Mallya is not likely to make any material difference.

The court also rejected permission to appeal against his order or to grant a temporary stay of enforcement. The UBS can now go with the possession process to realise its debt.

Leave A Reply

Your email address will not be published.