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Vijay Mallya is bankrupt , says UK court

UK court orders extradition of Vijay Mallya A UK court on Monday declared fugitive Indian businessman Vijay Mallya, the chairman of now defunct Kingfisher Airlines, as bankrupt . The UK court order comes as a massive boost for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of assets owned by Mallya s Kingfisher Airlines, both in India and abroad, to repay its debt. Mallya is wanted in India for Rs 9,000 crore loan defraud. As at 15.42 (UK time), I adjudicate Dr Mallya bankrupt, Chief Insolvencies and Companies Court Judge Michael Briggs said during a virtual hearing of the Chancery Division of the London High Court.

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