Fugitive businessman Vijay Mallya is declared bankrupt by UK court

A court in the United Kingdom declared fugitive businessman Vijay Mallya bankrupt on Monday. Now, a consortium of Indian banks, led by the State Bank of India, will be able to seek repayment of a debt owed by Vijay Mallya’s now-defunct Kingfisher Airlines.

‘I adjudicate Dr. Mallya bankrupt as of 15.42 [UK time],’ Chief Insolvencies and Companies Court Judge Michael Briggs said during a virtual hearing of the Chancery Division of the London High Court. It was argued by a consortium of Indian banks that the bankruptcy order should be granted in their favor. Attorney Marcia Shekerdemian and the law firm TLT LLP represented them.

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While Vijay Mallya remains on bail in the UK. He is 65 years old. A ‘confidential’ legal matter, possibly related to an asylum application, has yet to be resolved in connection with unrelated extradition proceedings.