Mallya is residing in the UK from the past two years. His extradition case is reportedly in its final stage at London's Westminster Magistrates' Court which is expected to deliver it ruling by the year-end
Vijay Mallya
Fugitive Indian businessman Vijay Mallya on Thursday faced a major setback in his battle to save his luxurious London house from foreclosure by Swiss bank UBS after the United Kingdom (UK) High Court rejected scores of the arguments presented by his legal team during the trial of the matter.
ADVERTISEMENT
The judicature has issued an order asking Mallya to pay a hefty amount of £88,000 to UBS Investment Bank, which had issued £20.4 million in the mortgage loan for his London property.
The property was referred to in the UK High Court as a 'high-class home for Dr Vijay Mallya and his family members and United Breweries Group corporate guests'.
The former liquor baron, who is on bail on an extradition warrant after his arrest in April 2017 is also facing trouble from New Delhi, after the Indian government led by Prime Minister Narendra Modi made an attempt to get him extradited from the UK on charges of money laundering to the tune fo Rs 90 billion.
Mallya is residing in the UK from the past two years. His extradition case is reportedly in its final stage at London's Westminster Magistrates' Court which is expected to deliver it ruling by the year-end.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
