UK court rejects Vijay Mallya’s attempt to appeal against verdict favouring Indian bank to recover their funds

Fugitive businessman Vijay Mallya has lost his attempt to appeal against a UK High Court order in favour of 13 Indian banks to recover funds amounting to nearly 9,000 crore rupees.

The UK’s Court of Appeal refused permission to Mallya to appeal against the High Court order dated 8th May which gave right to Indian banks to enforce the Indian judgment against Mallya’s assets in England and Wales.

Mallya is separately undergoing an extradition trial in a UK court over fraud and money laundering charges by the Indian authorities.