Vijay Mallya set to be evicted from luxurious London home as he loses court battle

Vijay Mallya set to be evicted from luxurious London home as he loses court battle

Fugitive liquor businessman Vijay Mallya along with his son Sidhartha Mallya and his 95-year-old mother are set to be evicted from their luxurious and multi-million pound London home after losing a court battle, as per reports. Several media outlets reported on Wednesday morning that the business tycoon had lost a court battle to Swiss bank UBS.    

For the unversed, Vijay Mallya had obtained a mortgage from UBS on the multi-million-Central London home where he has been living since he fled India. The Kingfisher tycoon had failed to meet the repayment deadline in April 2020. On Tuesday, the chancery division of the High Court refused a request by Mallya’s lawyers for a stay on the repayment of loan. 

If Mallya and his family do not leave immediately, they will soon be evicted from the home which is located in the plush neighbourhood of Cornwall Terrace. The property is a stone’s throw away from Regent`s Park and the Madame Tussaud`s wax museum. 

With this fresh court ruling, UBS can now go ahead and re-posses the Central London property. As per reports, this is not the only property owned by the Mallya’s. In the UK, the family reportedly own numerous other properties including a sprawling country home in Hertfordshire, north of London.

Vijay Mallya has been living in London ever since he left India after being accused of a Rs 9,000 crore fraud in regards to the Kingfisher Airlines. However, he has repeatedly denied the claims. The Indian government has so far failed to extradite the fugitive business tycoon. 

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