Nayagarh,(Baghuabarta): Fugitive businessman Vijay Mallya is once again in trouble. The London High Court declared Vijay Mallya bankrupt. Following the court’s decision, Vijay Mallya’s assets have been cleared. After Mallya was declared bankrupt, Indian banks could now be allowed to repay loans to him. The bank can comfortably freeze its foreign account. The applicant banks include 13 Indian banks, Banks of Baroda, Corporation Bank, Federal Bank Limited, IDBI Bank, Indian Overseas Bank, Jammu and Kashmir Bank, Punjab and Sindh Bank, Punjab National Bank, State Bank of Mysore and UCO Bank. According to the information obtained, the Chief Justice of the High Court, Justice Michael Briggs, heard the case through video conferencing. “I am declaring bankruptcy to Dr. Mallya,” he said. Lawyers fighting in court on behalf of Indian banks demanded Mallya to go bankrupt. Mallya’s lawyer, Philip Marshall, called for a halt to the hearing and order. In addition, the judge also ordered Indian banks to repay their loans as soon as possible. Mallya’s lawyer then asked for time to appeal the bankruptcy declaration. But Justice Briggs denied the allegations, saying they were unsuccessful.
London High Court declares Vijay Mallya bankrupt!
