The bad times have really come to haunt former airline and racing car tycoon Vijay Mallya after a London court has ordered that six of the 62-year-old¡¯s posh cars are to be sold to pay off the Rs 10,000 crore that he owes a consortium of Indian banks. The cars to be sold include four with personalised number plates using his initials VJM, one being a Porsche with the James Bond-esque number plate ¡®OO07 VJM¡¯.
Justice Cockerill at the London HC issued an order dated October 11 stating that high court enforcement officers are ¡°at liberty to sell¡± his 2016 Mini Countryman, his 2012 Maybach 62 registration number ¡®VJM1¡¯, his 2006 Ferrari F430 with registration ¡®BO55 VJM¡¯ (clearly meaning Boss VJM), his 2014 Range Rover registration ¡®F1 VJM¡¯ (clearly indicating his former ownership of Force India formula 1 team), a Ferrari F512M and a Porsche Cayenne with the number plate OO07 VJM, evoking James Bond.
AFP
Cockerill said the cars must be sold for no less than ?404,000.
The order comes after Mallya lost a case in the HC against the registration of the Bengaluru Debt Recovery Tribunal (DRT) judgment in UK courts. The DRT ruled that Mallya owes the consortium Rs 6,203 crore plus interest. The London HC gave permission to enforcement officers to enter Mallya¡¯s two UK homes to search for and take control of goods belonging to him.