Vijay Mallya declared bankrupt by London court
The week brought bad news for the King of Good Times, Vijay Mallya, as the Insolvency and Companies Court of the London High Court declared the former liquor baron of India, fugitive from Indian law, bankrupt. The verdict delivered by Chief Insolvency and Companies Court (ICC) judge Briggs was simple: There is no evidence he will go back to India to face trial, so I find insufficient evidence he will pay the debt in full in a reasonable period of time. I shall adjudicate Dr Mallya bankrupt.
Mallya, though, still has the option of seeking permission to appeal from a higher court. He has fought extradition cases, but has lost all. Yet he did not return to India to face trial. What Mallya…
Read the full article at: https://www.indialegallive.com/world-news/globetrotter-news/vijay-mallya-declared-bankrupt-by-london-court/
