Embattled tycoon Vijay Mallya shrugs off threats to seize UK properties


Silverstone, Jul 9 (Reuters): Embattled tycoon Vijay Mallya said on Sunday he will comply fully with court enforcement officers seeking to seize his British assets, but there was not much for them to take as his family’s lavish residences were not in his name.

The 62-year-old former liquor baron faces extradition from Britain to face charges of fraud as a group of Indian banks seek to recover more than $1 billion of loans granted to his defunct Kingfisher Airlines.

A verdict is expected by early September, with July 31 the final date for closing oral submissions and appeals likely whatever the outcome.

Speaking to Reuters at the British Formula One Grand Prix, where he is principal and co-owner of the Force India team, Mallya said he would hand over British assets held in his name. But a luxury country residence belonged to his children and a house in London belonged to his mother, making them untouchable.

“I have given the UK court on affidavit a statement of my UK assets. Which, pursuant to the freezing order, they are entitled to take and hand over to the banks,” he said. “There’s a few cars, a few items of jewellery and I said ‘OK, fine. You don’t have to bother to come to my house to seize them. I’ll physically hand them over. Tell me the time, date and place.’”

“There’s no question of being homeless because at the end of the day, they are entitled to take my assets in my name declared on oath to the court. They can’t go one step beyond,” he said.

 

  

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Comment on this article

  • Rita, Germany

    Tue, Jul 10 2018

    This Guy was clever enough that his assets in England doesnt slip off to govt,he made or handedover in wifes or childrens name before Govt, lays hand on it.Now he can relax and see how the govt.will go forwards.

    DisAgree Agree Reply Report Abuse

  • Charles D'Mello, Pangala

    Mon, Jul 09 2018

    He is ready to pay back by selling his properties in India but the banks want something more....!!!!???Take whatever you get from selling his properties and anyway Mr. Modi is there to waive major chunk....!!!!! May be he has not contributed much to the party fund....!!!!!????

    DisAgree [3] Agree Reply Report Abuse

  • Vincent Rodrigues, Bengaluru/Katapadi

    Mon, Jul 09 2018

    Court directions need to be complied

    DisAgree Agree Reply Report Abuse

  • Navin, Kundapur

    Mon, Jul 09 2018

    REDBULL:) :)

    DisAgree Agree [1] Reply Report Abuse

  • Rathan, Mangalore

    Mon, Jul 09 2018

    Nidderamayya did not arrest nirav when there was a red notice against him

    DisAgree [8] Agree [3] Reply Report Abuse

  • Rajesh, Mulky

    Mon, Jul 09 2018

    Our politicians are happy to divert the attention of billion people towards these 4 or 5 individuals while constant robbery is going on here on daily basis...

    DisAgree [1] Agree [14] Reply Report Abuse

  • Mohammed, mangalore

    Mon, Jul 09 2018

    Fugitives are feeling the heat now.

    DisAgree [4] Agree [4] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Mon, Jul 09 2018

    Fugitives, Crooks are born with brains. First they hatch a plot to ensure their benefits and protection from legal point of view and execute their plans accordingly.
    He fooled so many Agencies, Ministers, Banks including our government. He left the country with full baggage and personal assets. Now run after him to recover his foreign assets. (which have already been transferred in fly members name)

    DisAgree Agree [12] Reply Report Abuse

  • Lionel Dsouza, Mangalore

    Mon, Jul 09 2018

    ONE GUJJU AND ONE VIJJU....TOO MUCH PROBLEM....MODI WILL ARRANGE FOR A HOUSE FOR YOU IN LONDON...ENJOY...

    DisAgree [9] Agree [11] Reply Report Abuse

  • Karthik Karkera, Maryhill Mangalore

    Mon, Jul 09 2018

    Well connected with politicians of Congress party who pressurized the banks to give him loans during their term. Modi govt is making all efforts to get the money back and prosecute him

    DisAgree [34] Agree [18] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Mon, Jul 09 2018

    What about Nirav and Lalit Modi?

    DisAgree [9] Agree [28] Reply Report Abuse

  • SJM, Mangalore

    Mon, Jul 09 2018

    Well connected with India's Chowkidhar ...........

    DisAgree [12] Agree [25] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Mon, Jul 09 2018

    Chaddi Chowkidar!

    DisAgree [12] Agree [23] Report Abuse

  • kumara, abu dhabi

    Mon, Jul 09 2018

    during dongi's time they looted, during feku's time they are running still feku looks villain.

    DisAgree [4] Agree [8] Report Abuse

  • Karthik Karkera, Maryhill Mangalore

    Mon, Jul 09 2018

    Henry , One down two more left. Next is Nirav Modi's turn be patient.

    DisAgree [4] Agree [18] Reply Report Abuse

  • kiran, udupi

    Mon, Jul 09 2018

    Do you knowWhich Govt rule in india when lalit MODI incident happen.....................?
    Chadd less is always chaddi less

    DisAgree [4] Agree [13] Reply Report Abuse

  • Karthik Karkera, Maryhill Mangalore

    Mon, Jul 09 2018

    Kiran Udupi, Yes you are right, Lalit Modi incident happened fully under UPA and he escaped to London also during UPA. Chaddi less are always Shameless

    DisAgree [6] Agree [11] Report Abuse

  • shashi, udupi

    Mon, Jul 09 2018

    HENRY ask Bar DANCER.....................

    DisAgree [6] Agree [4] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Mon, Jul 09 2018

    So what we do?

    DisAgree [3] Agree [6] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Jul 09 2018

    Vijay Mallya is well connected with Politicians ...

    DisAgree [1] Agree [21] Reply Report Abuse

  • Kuchan, Kudla

    Mon, Jul 09 2018

    He is Fugitive... and Chor. ... Shameless guy.. but connected with Chor politicians.

    DisAgree [3] Agree [15] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Jul 09 2018

    He was stopped by Interpol @ Delhi in 2016 but DRI asked Interpol to let him go ...

    DisAgree [3] Agree [6] Reply Report Abuse


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