LONDON: Indian banks have dragged Vijay Mallya to the British High Court over the real information of the property. The property, which was objected to in court on Monday, also includes two superyachts, forest areas, valuable undisclosed assets, old iconic cars, valuable paintings and a piano of Elton John (singer, songwriter). A group of India's public sector banks, led by the State Bank of India, is taking steps to recover its dues from 63-year-old Mallya amid a forfeiture order of 1.145 billion pounds of assets worldwide.
During the hearing on Monday, banks sought to unearth important documents that would expose the ownership structure of the VMDS Trust. The trust is named after Mallya's father Vittal Mallya. Mallya claims that he has no remunerative interest in it. A group of India's public sector banks, led by the State Bank of India, is taking steps to recover its dues from 63-year-old Mallya amid a worldwide forfeiture order of Rs 9850 crore worth of property.
Barrister Nigel Toji, who is lobbying Indian banks, told Judge Robin Coles that the whole story has not been told in the courts in India and here. "All the avenues go to the VMDS, but there is a hurdle in getting the original information," Toji said. He agreed with the claim that Mallya's interests were related to the trust. Judge Knowles said that after the hearing is over, the banks will decide on the latest application.
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