Vijay Mallya Lose sas Indian banks win $1.55 billion debt. recovery case in UK court

 Vijay Mallya as Indian banks win $1.55 billion debt. recovery case in UK court

ब्रिटेन के एक न्यायाधीश ने कहा कि बैंक भारतीय अदालत के फैसले को लागू कर सकते हैं, जो आरोपों से संबंधित है कि विजय माल्या ने जानबूझकर किंगफिशर एयरलाइंस लिमिटेड के लिए $ 1.4 बिलियन का ऋण स्थगित कर दिया था।

 Vijay Mallya as Indian banks win $1.55 billion debt. recovery case in UK court

भारतीय व्यापारी विजय माल्या 27 अप्रैल को लंदन में वेस्टमिंस्टर मजिस्ट्रेट्स कोर्ट में अपने प्रत्यर्पण मामले को सुनने आए।
भारतीय व्यापारी विजय माल्या 27 अप्रैल को लंदन में वेस्टमिंस्टर मजिस्ट्रेट्स कोर्ट में अपने प्रत्यर्पण मामले को सुनने आए। (एपी फाइल फोटो)

Under the leadership of the country's largest lender, a consortium of 13 Indian banks, state-owned State Bank of India, extended a step further for recovery of £ 1.145 billion from businessman Vijay Mallya when the commercial court on Tuesday The applications were rejected by the Debt Collection Tribunal and a ruling of the worldwide cold order.

The first instance of the decision of the Indian Tribunal registered in the ruling English High Court was registered in November 2017. This case is a part of a lawsuit in which the banks are demanding to recover the amount given to Kingfisher Airlines Limited, which was guaranteed by Mallya

Tycoon ran away from India for the UK a few days before the decision of the important Debt Recovery Tribunal. At present extradition proceedings are going on to return to India in the London Court. This case is ready for the final hearing on July 11 at the Westminster Magistrates' Court.

By rejecting Tuesday's applications, Tuesday's decision by the Commercial Court (Queen Bench Division) is expected to enable the banks to implement Indian rule against their property in England and Wales.

The Global Cooling Order prevents them from settling any property from England and Wales, or in any way to deal with or deal with the value of rights in or outside the territory. is. The UK law firm TLT's partner Paul Gere worked on behalf of Indian banks, he said: "Today's decision is not only a very important decision for our customers, who want to move forward in this jurisdiction, implemented in India. But also for the Indians and the international bank ".

"In a weak global economy, non-executed loans present a real challenge for lenders, especially where customers have assets worldwide. In these cases, the English courts can play an important role because London is the world's leading Financial center. "

"In rejecting the application of Dr. Mallya, the High Court has demonstrated its desire to identify the decisions made by the courts in other jurisdictions, allowing the parties to give their chance to implement their decisions against any property held here. May be. "

Under the leadership of SBI, Bank of Baroda, Corporation Bank, Federal Bank Limited, IDBI Bank Limited, Indian Overseas Bank, Jammu & Kashmir Bank Limited, Punjab and Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank India And JM Financial Asset Reconstruction Company Pvt. Ltd.

 Vijay Mallya as Indian banks win $1.55 billion debt. recovery case in UK court

New Delhi: Indian tycoon Vijay Mallya alleged that he had lost a UK lawsuit filed by Indian banks demanding to collect 1.15 billion pounds ($ 1.55 billion or more than Rs 10,000 crore) on a large scale for fraud.
Judge Andrew Henshaw in London said on Tuesday that the borrower including IDBI Bank Limited can implement the decision of the Indian court, which is related to the allegations that Mallya deliberately defaulted in its $ 1.4 billion loan for its now-defunct Kingfisher Airlines Limited. Is of Hansh also refused to confuse a world order, cooling Mallya's property.
Read also:
Vijay Mallya's Kingfisher Airlines has lost court battle in Britain, claims $ 90 million in payments
62-year-old UK and its parent country are facing several lawsuits on fraud and money laundering charges. He was arrested in London a year ago and has fought another battle to stop the extradition in a separate court three miles across the city.

Mallya's lawyers refused to comment after the hearing. Henshaw refused to allow an appeal on Tuesday's decision, which means that his lawyers will have to file a petition directly to the Court of Appeal.
The attorney in law firm TLT, who are representing borrowers in London, said that the ruling will allow them to apply an immediate decision by the Indian Debt Recovery Tribunal.
The property freeze order forced Mallya to stay £ 5,000 a week, but after hearing the lenders' lawyers said that their allowance increased by approximately £ 20,000 at the beginning of this year.

On April 18, a warrant issued by Indian officials in London was arrested, alleging that he was planning to plot a betrayal of IDBI Bank of India through a loan of Rs 9,100 crore ($ 1.4 billion) to Kingfisher Airlines Limited Charging - a premium airline established in 2005 and closed seven years later
Read this story in Marathi
Mallya left India in 2016 and said that he was going to England to stay close to his children. They refused to return to India and said that they are afraid of an unfair trial between the "media hysteria and hysteria" on the unpaid outstanding amount. Mallya has also said that government agencies are pursuing "heavy biased investigation" and are guilty of a lawsuit.

 Vijay Mallya as Indian banks win $1.55 billion debt. recovery case in UK court

About Vijay Mallya

Anual Income-  ₹6,630 crore (US$1.0 billion) worth of Mallya's assets, including a farmhouse, shares in United Breweries and multiple flats in Bengaluru valued at ₹565 crore (US$87 million).

 Vijay Mallya's shares-

1)United Breweries (UB) Group.
2)United Spirits Limited (USL)
3)Kingfisher Airlines Limited – KFA.
4)Mallya in Parliament.
5)McDowell Mohun Bagan.