UK court declares fugitive Vijay Mallya bankrupt

The UK high court on Monday issued a bankruptcy order against the Indian businessman Vijay Mallya. The order will pave the way for a consortium of India banks led by the State Bank of India (SBI) to pursue a worldwide freezing order on Mallya’s assets in a bid to seek the repayment of debts owed by the liquor baron’s now-defunct company Kingfisher Airlines.

“As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt,” Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the High Court, news agency PTI reported.