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Vijay Mallya drops UK appeal to block asset seizures for his £1.05 billion airline debt.
Vijay Mallya has withdrawn his bid to overturn a UK bankruptcy order, allowing the Trustee in Bankruptcy to continue seizing assets to repay a £1.05 billion debt linked to his defunct Kingfisher Airlines.
The UK High Court had upheld the 2021 order in April, rejecting Mallya’s claim that the debt was already settled in India, where a related writ petition for recovery details has stalled.
The case stems from a 2017 Indian Debt Recovery Tribunal judgment and a 2018 worldwide freezing order.
Mallya, on bail in the UK, faces extradition from India, while a confidential legal matter—possibly an asylum application—remains pending.
He has also urged Indian public sector banks to disclose recovery details, disputing claims that Rs 14,100 crore was fully recovered, as officials clarify only about Rs 10,800 crore has been recovered so far.
Vijay Mallya abandona la apelación del Reino Unido para bloquear las incautaciones de activos por su deuda de aerolíneas de £ 1.05 mil millones.