- Friday, April 26, 2024
By: Eastern Eye Staff
BUSINESSMAN Vijay Mallya, who faces extradition to India over fraud and money-laundering charges by authorities in that country, on Tuesday (8) lost in the UK high court a lawsuit filed by 13 Indian banks seeking to collect from him more than $1.55 billion. Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya’s assets and upheld an Indian court’s ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion (£1.145bn). The victory for the banks will enable them to enforce the Indian judgment against Mallya’s assets in England and Wales. The…
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