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Vijay Mallya Faces Bankruptcy Proceedings In UK Court

The consortium of lenders led by SBI needs to rule Vijay Mallya as bankrupt as part of the efforts of the lenders to seize his properties in the UK to recover his loans (Photo: Jack Taylor/Getty Images).

By: Radhakrishna N S

In a latest legal trouble to former Indian business tycoon Vijay Mallya, a court in the UK has started bankruptcy proceedings against him. According to a new report published in Indian daily, The Hindustan Times, Vijay Mallya is facing bankruptcy proceedings in a court in London brought by India’s biggest bank, State Bank of India (SBI), and other 12 lenders seeking to recover £1.145billion extended as loans to grounded Kingfisher Airlines, Mallya guaranteed. The consortium of lenders led by SBI needs to rule Vijay Mallya as bankrupt as part of the efforts of the lenders to seize his properties in…

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