No one can touch my house...!?

The government of india continues to seize movable and immovable property owned by Kingfisher founder Vijay Mallya, one of the most important fugitives abroad after borrowing from indian banks. The verdict, in this case, has come in favor of Vijay Mallya as he is being prosecuted for planning to seize Vijay Mallya's luxury house in London. Vijay Mallya's Cornwall Terrace property in central london is not in his name but rather owned by Rose capital Ventures (RCV) in the british Virgin Islands.
The Rose capital Ventures (RCV) is also affiliated with the Mallya Family Foundation. The verdict was in favor of Mallya and his family's trust when Vijay Mallya sued to get the luxury house bought on loan from indian banks. A british court has ruled that Vijay Mallya's family can control their london home after a UK court ruled that refinancing a family trust by a family trust would not violate the WTO rules if the bank did not repay the loan. In march 2017, Vijay Mallya, his mother Lalita Mallya, and his son siddhartha Mallya completed a five-year repayment on a loan they had obtained from swiss UBS Bank. Cornwall Terrace acquired the property after refinancing a 2. 2.4 million loan from RCV.
A few days ago, the supreme court bench of India's Solicitor General Tushar Mehta announced that Rs 18,000 crore had been returned to the banks in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi, who had defrauded indian banks of their loans.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

vijay mallya

Sowmiya Sriram

08/03/2022 10:35 PM