Vijay Mallya Withdraws Application to Annul UK Bankruptcy Order
Vijay Mallya has withdrawn his application to annul his UK bankruptcy order, allowing the bankruptcy trustee to continue pursuing assets for SBI and other banks. This development follows previous legal actions and highlights ongoing complexities related to Mallya's debts and extradition in both the UK and India.
- Country:
- United Kingdom
Businessman Vijay Mallya, wanted in India for trial on charges of fraud and money laundering, has withdrawn his bid to annul a UK bankruptcy order.
The withdrawal allows the bankruptcy trustee to pursue assets for a consortium of banks, led by the State Bank of India, to recover a debt of approximately 1.05 billion pounds linked to Kingfisher Airlines.
The case traces back to 2017, and despite ongoing legal tussles, the courts upheld the bankruptcy order, complicating matters with parallel proceedings and possible future actions in both the UK and India.
(With inputs from agencies.)
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