Connect Gujarat
Business

Vijay Mallya, the fugitive liquor baron, facing eviction from his London mansion

Vijay Mallya had a mortgage on the multi-million-pound house, located along Cornwall Terrace in one of London's sought-after districts

Vijay Mallya, the fugitive liquor baron, facing eviction from his London mansion
X

After the UK High Court decided against him in a dispute with the Swiss bank UBS, the fugitive Kingfisher businessman Vijay Mallya faces the threat of being evicted from the opulent Central London residence he presently occupies.

Mallya had a mortgage on the multi-million-pound property, which was located along Cornwall Terrace in one of London's most coveted districts, minutes from Regent's Park and attractions like Madame Tussaud's wax museum.

Mallya, his son Siddharth, and his 95-year-old mother Lalitha are thought to have lived on the property.

On Tuesday, a judge in the High Court's chancery division denied Mallya's lawyers' request for a delay on repaying the UBS loan after Mallya missed a previous repayment due in April 2020.

However, according to COVID laws, UBS was unable to remove the Mallyas. The property will be repossessed by UBS as a result of today's verdict.

Mallya and his family are thought to own a number of other properties in the UK and abroad, including a huge country estate in Hertfordshire, north of London.

Mallya has been based in London since fleeing the country after being charged with a Rs 9,000 crore fraud in connection with the demise of Kingfisher Airlines.

He has always refuted the allegations. After three years of hearings, the UK High Court ordered that he be extradited.

He is still being held on bail while the UK government considers what is believed to be an asylum claim.

Next Story
Share it