Fugitive billionaire Vijay Mallya commits fraud again, eviction from london house Fugitive Vijay Mallya is caught in the debt trap in such a way that now he will have to vacate his london house too.
Fugitive businessman Vijay Mallya's troubles have increased again. Let us tell you that Mallya fled the country in 2016 and fled to London. Mallya is wanted in the case of misappropriation of loans of 9 thousand crores and money laundering.
This loan was granted by a number of banks to Kingfisher Airlines. Due to the weight of his debt, Mallya's hand has also gone to his opulent london home.
A british court has denied Mallya's motion in a long-running legal battle with swiss bank UBS. In fact, the house had been ordered to be abandoned by the court. Mallya had called for a ban on it.
Mallya's mother occupies the luxurious bungalow
Mallya's 95-year-old mother, Lalita, currently occupies the 18/19 Cornwall Terrace luxury apartment in Regent's Park, London. The property was shown in court as an "extraordinarily valuable asset worth millions of pounds".
In this regard, Judge Matthew Marsh of the Chancery Division of the london High court stated in his decision that there is no reason to give the Mallya family more time to pay their debts. In such a case, it is obvious that Mallya can be evicted from the property.
What is the entire debt issue on Mallya?
The case involves a loan taken out by one of Mallya's companies, Rose capital Ventures. In which the former CEO of Kingfisher Airlines, his mother Lalita, and his son siddharth Mallya were named as co-respondents with the right to possession of the property. Mallya may be released on bail for the time being.
