A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.
The Indian banks, represented by a law firm and barrister Marcia Shekerdemian, had argued for the bankruptcy order to be granted in favour of the Indian banks.
The 65-year-old businessman, meanwhile, remains on bail in the UK while a "confidential" legal matter, believed to be related to an asylum application, is resolved in connection with the unrelated extradition proceedings.