• Wednesday, August 17, 2022

Business

Indian banks to sell Mallya’s luxury car collection ‘shortly’ in UK

Vijay Mallya Photo: Jack Taylor/Getty Images).

By: Sarwar Alam

A UK High Enforcement Officer is set to sell a fleet of Vijay Mallya’s cars in the UK as part of efforts to recover loan repayment dues owed by the beleaguered liquor baron to a consortium of 13 Indian banks, the banks’ legal representative confirmed on Friday. TLT LLP, the law firm which had won a landmark case in May when a UK High Court judge ruled in favour of the Indian banks and concluded they were entitled to recover funds amounting to nearly £1.145 billion, said the sale of six cars owned by the 62-year-old former Kingfisher Airline boss…

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