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Monday, January 17, 2022

Vijay Mallya got a big shock, India will not get money for paying fees to lawyers

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A UK court dismissed Mallya’s plea seeking withdrawal of the money withheld by the court to meet the expenses of legal proceedings in India.

Vijay Mallya

Fugitive liquor businessman Vijay Mallya has suffered a major setback from a British court. A UK court rejected Mallya’s plea seeking withdrawal of the money withheld by the court to meet the legal proceedings in India, in support of his demand of Rs 7.69 crore, ie £ 7,50,000. Have failed to produce strong evidence.

British High Court Judge Justice Robert Miles ruled in favor of a group of Indian banks led by the State Bank of India (SBI). He directed Mallya to bear 95 per cent of the cost of his petitions, saying that the banks had ‘very successfully’ made their case in the matter of withholding money from the court and withheld withdrawal of money and included ‘straight-line’ Won ‘.

Mallya could not present any bill of expenditure

Justice Miles said, details of expenditure on individual proceedings were not given, no attempt was made to justify the expenditure in respect of steps already taken, any bill of expenditure in support of the amount being sought. , The descriptive program or any other evidence was not presented.

Earlier in February, a UK court asked Mallya to pay his living expenses and legal expenses related to the ongoing bankruptcy case in the UK from the court fund office (CFO) for Rs 11,28,70,710 (£ 1.1 million) The use of was approved. The next hearing related to the bankruptcy case will be held on July 26.

Banks will get 14000 crores back

Last week, the British court ruled against Mallya who had fled from India. In such a situation, there is a hope of a return of 14000 crores of banks. Actually, Vijay Mallya had taken a loan of 9000 crores but after interest, this amount has now become 14000 crores.

The consortium led by State Bank of India had demanded the withdrawal of the security cover on Mallya property. This demand of banks was accepted by the British court. In such a situation, banks will now be able to recover their money by selling Vijay Mallya’s property.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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