UK High Court refuses to release money for liquor tycoon Vijay Mallya

London [UK], January 13 (ANI): Fugitive businessman Vijay Mallya has been denied access by a UK court to a significant chunk of his cash held by the UK court funds office as part of the wider bankruptcy proceedings against him launched by a consortium of Indian banks.

A judge at the Insolvency and Companies Court at the High Court in London refused to release the funds, saying that Mallya had failed to provide the necessary information to permit the release of the funds.

Judge Sebastian Prentis however, agreed to allow sufficient funds to Mallya to cover an appeal he is expected to file against the refusal on Wednesday (January 13).