• Tuesday, April 30, 2024

Business

Indian tycoon Mallya shrugs off threat of British asset seizures

Vijay Mallya

By: Sarwar Alam

Embattled Indian tycoon Vijay Mallya said on Sunday he will comply fully with court enforcement officers seeking to seize his British assets, but there was not much for them to take as his family’s lavish residences were not in his name. India wants to extradite the 62-year-old former liquor baron from Britain to face charges of fraud as a group of Indian banks seek to recover more than $1 billion of loans granted to his defunct Kingfisher Airlines. A verdict is expected by early September, with July 31 the final date for closing oral submissions and appeals likely whatever the outcome. Speaking to…

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