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Malleya’s lawyers said in a statement that he would continue trying to obtain the bankruptcy order
The fugitive businessman Vijay Malle. (Photo of the AP file)
The Indian magnate Vijay Malle lost on Wednesday an appeal against a bankruptcy order made by the Superior Court of London on a debt of more than 1 billion pounds ($ 1.28 billion) for the lenders, including the State Bank of India.
Malleya, who lives in Britain, has been involved in a long legal battle with the lenders, as well as with the Indian authorities, after the 2012 collapse of his deceased Kingfisher airlines.
In 2017, a group of banks Obline to a sentence in India worth more than one billion pounds against Malleya, which had guaranteed Kingfisher Airlines’ debt.
That ruling was recorded in Britain later that year and led to a bankruptcy order against Malleya in 2021.
Mallea appealed against the bankruptcy order at a hearing in February, when his lawyers argued that the banks had already recovered assets that had effectively resolved the debt.
But his appeal was rejected on Tuesday, with Judge Anthony Mann saying in a written ruling that “the conclusion … is that the bankruptcy order is found.”
Mallea’s lawyers said in a statement that he would continue to try to obtain the bankruptcy order.
Malleya, who was also co -owner of Formula one of the Racing Force India team, is fighting separately in the extradition to India to face fraud charges on the collapse of Kingfisher Airlines.
His most recent appeal against his extradition was rejected in 2020, but Mann said in his ruling that the extradition order “has not yet been applied.”
“Apparently, Dr. Mallea still resists extradition in other bases that have not yet been resolved,” Mann added.
(This story has not edited the leg by News18 staff and is published from a FEED -Reuters Union News Agency)
- Location:
London, United Kingdom (United Kingdom)