London Court Allows Sale of Six Posh Cars Owned by Vijay Mallya to Repay Indian Banks
The London court has recently issued an order to sell six posh vehicles owned by Mallya to pay a consortium of the banks.
London, October 18: Liquor baron Vijay Mallya is in another trouble after the London court recently issued an order to sell six posh vehicles owned by him to pay a consortium of the banks. Mallya, who owes debts of Rs 10,000 crore to Indian banks, has luxury cars including personalised number plates with 'VJM' initials on them. According to a report by TOI, the luxury cars include one Porche with James Bond number plate OO07 VJM and 2006 Ferrari with BO55 VJM which means Boss Vijay Mallya.
The report further states that the order was passed by justice Cockerill dates back to October 11 stating that high court enforcement officers are “at liberty to sell” his Mini Countryman, Maybach 62, Ferrari F430 and F512M, Range Rover and Porsche Cayenne. Prison Makeover for Vijay Mallya and Others? Cells in Arthur Road Jail in Mumbai to Be Renovated to Meet European, UK Jail Standards.
This step from UK court comes after Mallya lost a case against the Bengaluru Debt Recovery Tribunal in London Court. The tribunal has added that Mallaya owes a consortium of Rs 6,203 crore with taxes. The UK court has allowed enforcement officers to carry out extradition from Mallaya's two home in the United Kingdom.
(The above story first appeared on LatestLY on Oct 18, 2018 11:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).