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UK High Court refuses to release Vijay Mallya's funds over failure to present necessary information

UK High Court refuses to release Vijay Mallyas funds over failure to present necessary information
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New Delhi: Fugitive businessman Vijay Mallya has been denied access by a UK court to a significant chunk of his cash held by the UK court funds office as part of the wider bankruptcy proceedings against him launched by a consortium of Indian banks. A judge at the Insolvency and Companies Court at the High Court in London refused to release the funds, saying that Mallya had failed to provide the necessary information to permit the release of the funds.

Judge Sebastian Prentis however, agreed to allow sufficient funds to Mallya to cover an appeal he is expected to file against the refusal on Wednesday (January 13).

Mallya, 65, was ordered extradited to India in 2018 to face charges of defrauding a consortium of Indian banks out of more than British Pounds 1 billion relating to the now-defunct Kingfisher Airlines in 2009.

That extradition order was upheld on appeal all the way to the UK High Court in April 2020.

However, the UK Home Secretary Priti Patel has held off on signing the extradition order due to a legal technicality currently being dealt with by the UK Home Office.

Mallya is also thought to have sought political asylum in the UK.

—ANI

Updated : 13 Jan 2021 6:03 AM GMT
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