Mallya stabbed in London, Indian banks recover 10 thousand crore claims
Vijay Mallya was shocked at a London court when his plea was rejected in connection with recovery of more than $ 1.55 billion. India's 13 banks had filed a case against Mallya for recovery of more than $ 1.55 billion (Rs 1,04,34,98,75,000). Mallya is accused of fraud and money laundering of crores of rupees in India.
London: Fugitive businessman Vijay Mallya was shocked at a London court when his plea was rejected in connection with recovery of more than $ 1.55 billion. India's 13 banks had filed a case against Mallya for recovery of more than $ 1.55 billion (Rs 1,04,34,98,75,000). Mallya is accused of fraud and money laundering of crores of rupees in India.
Judge Andrew Henshah refused to overturn a global order related to seizing the property of Mallya. The court has correctly told the order of the Indian court, which states that 13 of India's banks have the right to recover 1.55 billion dollars from Mallya. After the court's decision, the Indian banks will be able to execute Mallya's property in England and Wales.
Due to these orders, Mallya can not sell her assets nor can she deal in any way related to her. This group of Indian banks includes SBI, Bank of Baroda, Corporation Bank, Federal Bank, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab and Sind Bank, PNB, UCO Bank, United Bank of India.
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