INSUBCONTINENT EXCLUSIVE:
On Tuesday, the UK high court judge Andrew Henshaw upheld the worldwide order that froze Mallya's assets.
As over a dozen banks manage to pull off an interim victory in the court battle against the infamous liquor baron, preventing Mallya from
disposing off his assets overseas, the set of problems that Vijay Mallya now faces continue to mount.On Tuesday, the UK high court judge
nearly $1.55 billion.While the Indian authorities, time and again, have reiterated that he is a wilful defaulter for having refused to pay
while he has the financial stamina to refund the loans, he took a defence that the defaults stemmed from the financial losses incurred by
the now defunct Kingfisher Airlines, and there was not any malafide intention for not returning the money.The order, which has been upheld,
relates to that of the Debt Recovery Tribunal that had ordered that he owes Indian banks an amount of over Rs 6,000 crore plus
interest.Indian government, while trying to recover the money from the battered businessman, is also making concerted attempts to enforce
his extradition.That matter is still ongoing in the court of Westminster Magistrates' Court, which will now hear the matter on July 11.In
the past also, he has faced a series of unfavourable court orders, among other things
Last year in April, Scotland Yard, the territorial police force responsible for policing London, had arrested him on extradition warrant,
and he was released on a bail bond of 6,50,000 pounds.Not only this, the former king of good times was ordered by the court to survive on
weekly allowance of 5,000 pounds as all his assets are frozen, an amount that was raised on January 31 this year by a UK high court order to
18,325 pounds a week.(With PTI Inputs)
