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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.

UK High Court declares Vijay Mallya bankrupt, SBI and other banks can now takeover assets!

UK High Court declares Vijay Mallya bankrupt, SBI and other banks can now takeover assets!&nbsp;

Win for Indian banks led by SBI: UK High Court declares Vijay Mallya bankrupt

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.

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.

Own nothing meaningful, expenses borne by family: Anil Ambani

Debt-laden business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees. He said he had received ₹9.9 crore for all his jewellery between January and June 2020 and now does not own anything meaningful, as per a Times of India report.
On May 22, the UK High Court had ordered Ambani to pay a debt of ₹5,281 crore and ₹7&nbsp;crore&nbsp;in legal cost to three Chinese banks by June 12, 2020, but the amount was not paid.
He had outstanding loans of ₹500&nbsp;crore to his mother and ₹310 crore to his son, Anmol.&nbsp;The court heard his bank balance dropped overnight from ₹40 lakh to ₹20 lakh on January 1, 2020.&nbsp;Ambani&nbsp;told the court that his&nbsp;expenses are minimal and are being borne by his wife and family.

Debt-laden business tycoon Anil Ambani told a UK court on Friday that he lives a simple life, drives just one car and has sold his jewellery to pay his legal fees. He said he had received ₹9.9 crore for all his jewellery between January and June 2020 and now does not own anything meaningful, as per a Times of India report.
On May 22, the UK High Court had ordered Ambani to pay a debt of ₹5,281 crore and ₹7&nbsp;crore&nbsp;in legal cost to three Chinese banks by June 12, 2020, but the amount was not paid.
He had outstanding loans of ₹500&nbsp;crore to his mother and ₹310 crore to his son, Anmol.&nbsp;The court heard his bank balance dropped overnight from ₹40 lakh to ₹20 lakh on January 1, 2020.&nbsp;Ambani&nbsp;told the court that his&nbsp;expenses are minimal and are being borne by his wife and family.

uk high court

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