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The Supreme Court has reserved its verdict on a petition filed by fugitive liquor businessman Vijay Mallya. Mallya filed a petition seeking review of the May 2017 order of the Supreme Court. The court convicted them for violating the court order by transferring US $ 40 million to their children’s account.

Let us tell you that the liquor businessman and owner of the closed Kingfisher Airlines, Vijay Mallya has owed about 9 thousand crores of Indian banks. On March 2, 2016, he left India and fled to Britain. Indian agencies appealed to the UK court for extradition of Vijay Mallya and after a long battle, the UK court on 14 May sealed Mallya’s extradition appeal to India.
New order of UK court may affect Mallya loan recovery case

A decision by the High Court of England and Wales on Vijay Mallya could have an impact. A judgment by the England and Wales High Court in favor of the international branch of Punjab National Bank in the recovery of $ 22 million set an example against a businessman Vijay Mallya in a debt recovery bid in the UK by a consortium of Indian banks. The PNB case involves two loans between 2012 and 2013, including Pradeep Aggarwal, a businessman from Superior Drinks Pvt Ltd, India, and had not paid the loan dues to buy and operate the cruise liner, MV Delphin.

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