Vijay Mallya lenders win the British court

Mumbai: placed an order in favor of a consortium of 13 Indian banks seeking to recover the duties owed to them by Baron Alcohol Vijay Mallya, who fights extradition for fraud and money laundering up to ₹ 9,000 crore.

Commercial Court Order, part of the London High Court, also authorizes an officer of the authority to enter the properties of the 62 year old magnate in Hertfordshire, near London

"Acting Agent under his authority, may use reasonable force to enter the property if necessary, "the ordinance states.

Banks have the opportunity to use the order, pbaded on June 26, as one of the ways to recover estimated funds of about £ The order deals with the United Kingdom's Courts and Enforcement Act of 2007 and the May ruling by a British court refusing to overturn a worldwide order freezing Mallya's badets. their funds.

It marked the first recorded case of a debt collection court judgment in India being registered by the English Higher Court, setting a legal precedent.

Victory for the 13 Indian Banks-State Bank of India, Bank of Baroda, Corporation Bank, Federal Bank Ltd., IDBI Bank Ltd., Overseas Indian Bank, Jammu & Kashmir Bank, Punjab Bank & Sind , National Bank of Punjab, Mysore State Bank, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt. Ltd. – allows them to execute the Indian judgment against Mallya's property in England and Wales.

Mallya filed an application to the Court of Appeal seeking leave to challenge the order, which remains pending.

Mallya extradition to India, recently described the charges against him of political motives.

He went on social networks to clarify that he had made this statement "after a long period of silence" because he had filed a petition in the High Court of Karnataka on June 22, establishing badets available of about 13,900 crores. ] The former Kingfisher Airlines promoter has been on bail since his arrest (on extradition warrant) last April.

A judgment is expected in the case at a later date. While the prosecution claims to have successfully established a prima facie case that there has been fraud against the businessman, Mallya's lawyers have sought to establish that the criminal charges against him were "unfounded". They also challenged the case for human rights reasons, challenging the conditions of the Arthur Road jail in Mumbai, where the businessman would be detained when he was extradited.

"This is a very encouraging order for the consortium Zulfiqar Memon, managing partner of the boutique specializing in white collar crime MZM Legal." A request from Vijay Mallya requesting leave to appeal from this order has yet to be decided and it is only after this request has been decided that we will all have more clarity as to the effect of this development. "

" Vijay Mallya has the possibility of appealing this decision to the Supreme Court of England, where he can argue that until the court makes a final decision, no adverse action should be taken against him. Subsequently, Mallya will have the opportunity to take the final call to the House of Lords, "said a person familiar with the development.

Sunil Mehta, chief executive and chief executive officer of the National Bank of Punjab, said his bank was a lender Mallya will carry out a new valuation of Mallya's badets

"Although it is difficult to comment on the new valuation of badets of Vijay Mallya, the bank will continue the sale of Mallya's badets, "said Mehta on television.

PTI contributed to this story.