Loses Legal battle; Vijay Mallya may be evicted from London home over unpaid loan

Liquor baron Vijay Mallya may be evicted from his London home after losing his legal battle to hold on to his plush London home in court. British court refused to grant him a stay of enforcement in a long-running dispute with Swiss bank UBS. The 18/19 Cornwall Terrace luxury apartment overlooking Regent’s Park in London, described in court as an “extraordinarily valuable property worth many tens of millions of pounds”, is currently being occupied by Mallya’s 95-year-old mother Lalitha.

Delivering his judgment virtually for the Chancery Division of the High Court, Deputy Master Matthew Marsh concluded there were no grounds for him to grant further time for the Mallya family to repay a GBP 20.4-million loan to UBS the claimant in the case. The judge also declined permission to appeal against his order or to grant a temporary stay of enforcement. Meanwhile, Mallya is wanted in India to face charges of fraud and money laundering amounting to an alleged Rs 9,000 crores related to loans made to his now-defunct Kingfisher Airlines.

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