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Vijay Mallya shock! UK court order to compensate Indian banks

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16 June : – The British High Court has given a big chunk to Vijay Mallya, who has been abroad immigrated to millions of rupees from the Indian banks. British High Court has asked Vijay Mallya to pay 2 lakh pounds (Rs. 80 million) to 13 banks in India. In the hearing on Friday, the court ordered Vijay Mallya to pay 2 million pounds to Indian banks. These 13 banks are fighting legal battle to get back the money given to Vijay Mallya. Last month Andrew Henshaw had clearly refused to change his decision to free Vijay Mallya’s property.

A court lawyer said, “The court ordered that compensation be given to the banks. Both parties agree on any one sum, or the court will assess the expenditure on legal process from banks. It is a different process to assess costs by the courts. A British court hearing was held for this. Meanwhile, Mallya will give at least two million pounds of legal costs to the banks.

Meanwhile, Vijay Mallya has fled to London from March 2016. India has been trying to extradite him. SBI, Bank of Baroda, Corporation Bank, Federal Bank Limited, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab and Sind Bank, Punjab National Bank, State Bank of Mysore, Yuko Bank, United Bank of India and JM Financial Asset Reconstruction banks are giving legal battle against Vijay Mallya.

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