Vijay Mallya & 95yr Old Mother Kicked Out of their Home
In a huge setback to fugitive economic offender Vijay Mallya, a UK court ordered the businessman, along with his entire family to be evicted from his plush London home.
Vijay Mallya has been living in London since he left India and ran away to the UK after being accused of a Rs 9,000 crore fraud with Indian banks for his Kingfisher Airlines. He has consistently denied the charges of fraud. The Indian banks and the government filed a case in the UK High Court demanding that Mallya be sent back to India and the case went on for three years. He was earlier arrested by the police but has been let out on bail. Now the UK government and their High Court is thinking about whether to allow Mallya to stay in the UK or send him back to India. After getting bail, Mallya has been living in a luxurious bungalow in London. Its name is Cornwall Terrace Apartment. It is one of the most expensive & luxurious properties in the UK and is owned by Vijay Mallya. Mallya and his family—son Sidhartha and mother Lalitha who is 95 years old were staying there. It`s believed that Mallya and his family own numerous other properties in the UK and elsewhere. However, in 2012 Mallya took a loan of 20.4 million pounds (about Rs 185.4 crore) from UBS bank (It is a Swiss Bank) and in return, he kept the Cornwall Terrace Apartment as security.
In 2017, the loan expired and the loan was not paid. The bank filed a case in court demanding that Mallya leave the house and give it to the bank. While Mallya asked for more time to repay the loan amount. He was given a deadline of April 2020 to pay the amount but again Mallya was unable to pay it. USB wanted to remove Mallya from the house in April 2020 but due to COVID regulations, they could not. Now the UK High Court has ordered Mallya to leave the house and hand it over to the UBS bank. Now that the UK High Court has evicted Mallya from his home, we will have to wait and see if he is sent back to India.
