Mallya loses £1.11bn high court battle against Indian banks

A 13 Indian bank consortium have won a high court battle against Kingfisher Airlines founder Vijay Mallya, on Tuesday, when a UK high court judge ruled that an Indian Judgement which states that Mallya owes the banks more than Rs 9,000 crore, against him can legally be enforced against his assets in England and Wales.

UK high court enforcement officers can now act to recover those debts from his assets in England and Wales. Mallya holds his assets through a network of complex ownership structures and has been less than forthcoming in providing details.

Mallya could seek permission to appeal against the high court decision in the court of appeal. He will receive permission if the court considers that the appeal has a real prospect of success or there is some other compelling reason for it to be heard.