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UK Court Dictates To Sell Mallya’s 6 Cars To Pay Banks He Owed Rs 10000 Crore

Courtesy/By: Shuvasmita Nanda | 19 Oct 2018

Vijay Mallya the 62- year -old former airline and racing car tycoon is badly crashed with hard times after the London court ordered to sell six of his posh cars to pay off Rs 10000 crore that he owes to the consortium of Indian banks. Four among those six cars includes personalized number plate using his initial VJM while one being a Porsche with the James Bond-esque number plate’0007VJM’.

At London HC Justice Cockerill passed an order dated October 11 stating that high court enforcement officers are “at liberty to sell” his 2012 Maybach 62 with registration number ‘VJM1’, his 2006 Ferrari F430 with registration number’BO55 VJM’ ( means BOSS VJM) his 2014 Range Rover registration ‘F1 VJM’,a Ferrari F512M and a Porsche Cayenne with the number Plate 0007 VJM.

Justice Cockerill stated that the cars must be sold at minimum £404,000.

The order comes when Mallya lost a case in the HC against the registration of the Bengaluru Debt Recovery Tribunal(DRT) Judgment in UK courts. The DRT ordains that Mallya owes the consortium Rs 6,203 crore plus interest.

The London HC gave permission to the enforcement officers to enter Mallya’s two UK homes to search and take control of goods belonging to him

Courtesy/By: Shuvasmita Nanda | 19 Oct 2018