London: According to the latest update, property and assets of fugitive business tycoon Vijay Mallya’s can now be seized by the government regarding the unpaid loans the businessman owes to the bank. Our sources said that as per the orders by a UK judge, the government will not only seize the tycoon’s property but will also search his house in order to retrieve the money which he owes to the Indian banks.
These enforcements as ordered by the UK government will be in favour of those 13 Indian banks which were fighting for years to retrieve their amount from Vijay Mallya.
Besides this, the Indian banks after these orders by the Uk government can not only seize Mallya’s bank in England and Wales but the banks can also use these orders as options to recover estimated funds of around Rs 9,000 crores.
These orders which are against Vijay Mallya also gives UK high court enforcement officers all the rights required to breach the fugitive Tycoon’s properties in Hertfordshire as well as the officers can also enter Vijay Mallya’s home in lady walk and bramble lodge in tewin, Welwyn.
“The high court enforcement officer, including any enforcement agents acting under his authority, may enter lady walk, queen hoo lane, tewin, Welwyn and bramble lodge, queen hoo lane, tewin, Welwyn, including all outbuildings of lady walk and bramble lodge to search for and take control of goods belonging to the first defendant (Mallya),” notes the June 26 order by justice Byran.
Besides this, the officers may use any amount of required forces to enter the property in England.
Mr. Malya Regarding this has sent an in the court to grant him appeal against this order by a UK judge. The application seems to be pending as per our sources.
Apart from Malaya fighting individually against fraud and money laundering charges worth 9000 crore rupees has also taken the matter to social media saying that the charges against him are a result of political pressure.
“We have requested the Court’s permission to allow us to sell these assets under judicial supervision and repay creditors, including the Public Sector Banks such amounts as may be directed and determined by the Court,” he tweeted.
“If the criminal agencies such as ED or CBI object to my proposal, and object to the sale of assets, it will clearly demonstrate that there is an agenda against me ‘the Poster Boy’ beyond recovery of dues to Public Sector Banks,” he added.