Fugitive Indian businessman Vijay Mallya.

Photo: Kalinga TV

Banks To Recover Vijay Mallya's Debt After UK Declares Him 'Bankrupt'

In the latest development, a UK court has declared the fugitive Vijay Mallya as 'bankrupt' on July 26. The decision will help the State Bank of India-led consortium of banks to recover their debt by freezing the assets owned by Mallya's Kingfisher Airlines. Notably, Mallya is accused of not paying back Rs 9,000 crores to the banks, and is currently out on bail, living in the UK.

Tue, 27 Jul 2021 - 10:45 AM / by Brijesh Goswami

Tags: Fugitive, UK Court, Businessman, Bankrupt, SBI

Courtesy: Zee News