UK court says no to Vijay Mallya's attempt to appeal against verdict favoring Indian bank to recover their funds

London, July 27: Fugitive businessman Vijay Mallya has lost his attempt to appeal against a UK High Court order in favor of 13 Indian banks to recover funds amounting to nearly 9,000 crore rupees.

 

The UK's Court of Appeal refused permission to Mallya to appeal against the High Court order dated 8th May which gave the right to Indian banks to enforce the Indian judgment against Mallya's assets in England and Wales.

Mallya is separately undergoing an extradition trial in a UK court over fraud and money laundering charges by the Indian authorities.

Meanwhile, The Government has informed that the process for the extradition of Vijay Mallya is progressing as per the India-UK extradition treaty and the matter is currently sub-judice.

MoS for External Affairs V K Singh in a written reply to the Rajya Sabha on Thursday said that a formal extradition request was handed by the Ministry to the British High Commission in New Delhi in February 2017.

Recently UK high court said that his home and properties in the UK can be seized as a means of recovering the money he owes banks in India in unpaid loans, following an enforcement order.

The order also permits the officer and his agents' entry to Ladywalk and Bramble Lodge in Tewin, Welwyn, where Mallya is currently based and to search for and take control of goods belonging to him.