London High Court grants permission to Vijay Mallya for withdrawing money
London High Court grants permission to Vijay Mallya for withdrawing money
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New Delhi: The London High Court has given relief to fugitive liquor businessman Vijay Mallya on the economic front. The court has allowed Mallya to withdraw approximately 11 lakh pounds from his deposited money to live and meet legal expenses. The hearing took place under the insolvency action being taken by Indian banks under the leadership of State Bank of India (SBI) for not repaying the loan.

Mallya, the former head of Kingfisher Airlines, is on bail in the UK and has lost another legal battle to extradite India to face charges of fraud and money laundering. Judge Nigel Burnett of the Sub-Court of Insolvency and Company Affairs led the hearing in connection with the withdrawal of funds from the Court Fund Office. According to media reports, through this order, Mallya has been allowed to withdraw money from the court to meet the legal expenses regarding his stay and opposition to the bankruptcy petition.

Vijay Mallya owes more than Rs 9,000 crore to 17 Indian banks. He left India and fled to Britain on 2 March 2016. Indian agencies appealed to the UK court for Mallya's extradition, and after a long legal battle, the UK court on 14 May sealed Mallya's extradition appeal to India. However, due to legal bets, it has not been brought to India yet.

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