{"id":9292,"date":"2021-07-27T13:29:24","date_gmt":"2021-07-27T07:59:24","guid":{"rendered":"https:\/\/demo.testctsl.in\/indiafirstepaper?p=9292"},"modified":"2021-07-27T13:29:24","modified_gmt":"2021-07-27T07:59:24","slug":"british-court-declares-fugitive-business-baron-vijay-mallya-bankrupt","status":"publish","type":"post","link":"https:\/\/demo.testctsl.in\/indiafirstepaper\/2021\/07\/27\/british-court-declares-fugitive-business-baron-vijay-mallya-bankrupt\/","title":{"rendered":"British Court Declares Fugitive Business Baron Vijay Mallya &#8216;Bankrupt&#8217;"},"content":{"rendered":"<p>A UK court on Monday declared fugitive Indian businessman Vijay Mallya, the chairman of now defunct Kingfisher Airlines, as &#8220;bankrupt&#8221;.<\/p>\n<p>The UK court order comes as a massive boost for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of assets owned by Mallya&#8217;s Kingfisher Airlines, both in India and abroad, to repay its debt.<\/p>\n<p>Mallya is wanted in India for Rs 9,000 crore loan defraud.<\/p>\n<p>&#8220;As at 15.42 (UK time), I adjudicate Dr Mallya bankrupt,&#8221; Chief Insolvencies and Companies Court Judge Michael Briggs said during a virtual hearing of the Chancery Division of the London High Court.<\/p>\n<p>The consortium of banks led by SBI had argued for the bankruptcy order to be granted in their favour.<\/p>\n<p>The Indian banks were represented by the law firm TLT LLP and barrister Marcia Shekerdemian.<\/p>\n<p>Mallya is currently out on bail in the UK while a &#8220;confidential&#8221; legal matter, believed to be related to an asylum application, is being resolved in connection with the unrelated extradition proceedings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A UK court on Monday declared fugitive Indian businessman Vijay Mallya, the chairman of now defunct Kingfisher Airlines, as &#8220;bankrupt&#8221;. The UK court order comes as a massive boost for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of assets owned by Mallya&#8217;s Kingfisher Airlines, both in India [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,28],"tags":[],"class_list":["post-9292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main-stories","category-world"],"_links":{"self":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/9292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/comments?post=9292"}],"version-history":[{"count":2,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/9292\/revisions"}],"predecessor-version":[{"id":9294,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/9292\/revisions\/9294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/media\/9281"}],"wp:attachment":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/media?parent=9292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/categories?post=9292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/tags?post=9292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}