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Fugitive businessman Vijay Mallya, who fled to the UK after defaulting on loans taken form a consortium of banks has been declared bankrupt by the London High Court. The July 26 verdict, now opens the doors for Mallya's assets to be seized.
The London High Court granted a bankruptcy order against Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.
www.cnbctv18.com
The London High Court granted a bankruptcy order against Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.
Vijay Mallya declared bankrupt by London High Court; Indian banks can now realise debt - CNBC TV18
Business News: Get the latest Business News, Live Share & Stock Market Updates, Top News from India and across world. Read Top Business News and updates on financial, economic and banking news on CNBCTV18.
www.cnbctv18.com
