Tipu Sultan's Sword 'Vanishes' After Vijay Mallya's Family Said 'It Brought Bad Luck'
The sword was bought by Vijay Mallya at a auction in 2014.
New Delhi, April 18: Liquor baron Vijay Mallya, who owes over Rs 9,000 crores to a total of 13 Indians banks, is 'dissipating his assets', alleged the lawyers representing the consortium of the lenders. To validate their charge, counsel told the London High Court that Mallya has "vanished" the sword of 18th century Mysore ruler Tipu Sultan, which he had bought in an auction few years ago.
The sword's worth, the lawyers claimed, is nearly Rs 1.8 crore. According to reports, the sword was "given away" by Mallya after his family alleged that "it brought bad luck" to him.
After buying the sword at the auction in 2014, Mallya has faced a series of setbacks on the business front, which led to his departure from the United Breweries, apart from the closure of once-premium carrier Kingfisher Airlines.
Mallya absconded from India in March 2016, after the the consortium of Indian banks sought penal action against him for "wilfully defaulting" loans amounting to Rs 9,000 crore.
The former 'King of Good Times' is residing in London ever since, with the Indian agencies working strenuously towards securing his extradition. New Delhi's plea against Mallya is being currently heard at the London's Westminster Court.
(The above story first appeared on LatestLY on Apr 18, 2018 06:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).