Vijay Mallya loses court battle in UK, to pay USD 90 mn in claims linked to Kingfisher Airlines
Vijay Mallya loses court battle in UK, to pay USD 90 mn in claims linked to Kingfisher Airlines
The Legal Claim Relates To A Leasing Agreement Between Kingfisher Airlines And Aircraft Leasing Company BOC Aviation Involving Four Planes, Of Which Three Were Delivered. PTI | Updated on: 12 Feb 2018, 08:14:41 PM
London/Singapore:
Embattled liquor tycoon Vijay Mallya has lost another legal battle linked to his now defunct Kingfisher Airlines after the UK High Court awarded Singapore-based BOC Aviation an estimated $90 million in claims.
The latest case involving the 62-year-old businessman, whose extradition case over alleged loan defaults amounting to around Rs 9,000 crores returns to Westminster Magistrates Court in London on March 16, is related to the leasing of aircraft by Kingfisher Airlines dating back to 2014.
At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against Mallya thelinkpaper.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thelinkpaper.ca Daily Mail and Mail on Sunday newspapers.
Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers.
Vijay Mallya loses bankruptcy petition amendment HC battle in UK
London
A consortium of Indian banks led by the State Bank of India (SBI) on TuesÂday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallyaâs now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman s assets in India.
Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya s lawyers.
Vijay Mallya loses bankruptcy petition amendment High Court battle in UK thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.