Mallya loses appeal against bankruptcy

India, April 10 -- Disgraced business tycoon Vijay Mallya lost an appeal in the London High Court on Wednesday against a July 2021 bankruptcy order. This concerns the £1.28 billion debt that he owes to lenders including the State Bank of India. In 2018, Mallya had been declared bankrupt by Chief Insolvency and Companies Court Judge Briggs in London following a petition filed by the Indian banks. Mallya appealed against the bankruptcy order in February, arguing the banks had already recovered assets which had effectively settled the debt. This appeal was rejected on Wednesday.P9

Published by HT Digital Content Services with permission from Hindustan Times....