Mallya receives fresh blow as plea to halt bankruptcy proceedings rejected
London [UK], January 13 (ANI): The UK High Court today refused an appeal by the fugitive businessman Vijay Mallya to dismiss the bankruptcy petition brought by a consortium of banks which are attempting to recover the debts owed by Mallya’s now-defunct Kingfisher Airlines in lieu of the loans granted to the airline.
In a major setback for the 65-year-old Mallya, Justice Birss of the Insolvency and Companies division of the UK High Court upheld an earlier ruling that the bankruptcy proceedings be halted in just the latest appeal by Mallya against the proceedings.
The consortium of banks is led by the State Bank of India (SBI) and includes Bank of Baroda, Corporation Bank, Federal Bank Ltd,
