'Wilful Defaulter' Of Rs 9K Crore, Vijay Mallya Spends Rs 4.5 Lakh Per Week In London!
Vijay Mallya's lawyers are trying to overturn a £115 billion $15 billion worldwide freezing order against him across town. The flamboyant businessman is accused by more than a dozen Indian banks including the state-owned IDBI Bank Ltd of willfully defaulting on about $14 billion in debt for his now-defunct Kingfisher Airlines Ltd The 61-year-old was arrested in London in April at the request of Indian authorities.
As Vijay Mallya fights his extradition back to India on fraud charges, another set of lawyers is trying to overturn a ?1.15 billion ($1.5 billion) worldwide freezing order against him across town. In the meantime, Mallya has to get by on ?5,000 (Rs 4.3 lakhs) a week, Bloomberg citing court documents reported.
On Friday, a London judge upheld the injunction, served on Mallya Sunday, but granted a short extension to respond to the order because of the parallel proceedings over his extradition.
AP
The flamboyant businessman is accused by more than a dozen Indian banks, including the state-owned IDBI Bank Ltd., of willfully defaulting on about $1.4 billion in debt for his now-defunct Kingfisher Airlines Ltd.
Mallya was arrested in London in April at the request of Indian authorities. The 61-year-old is currently in the middle of a two-week extradition hearing in a bid to avoid being sent back to his home country to face fraud and money laundering charges.
A judgment on Mallya's extradition could take several weeks. The hearing has attracted dozens of journalists due to his high-profile in India where he's often referred to as the "King of Good Times."
ALSO READ: Extradition Trial Of Fugitive Business Tycoon Vijay Mallya To Resume In UK Court
