Indian banks to sell Mallya's cars 'shortly' in UK
London, Oct 19: A UK High Enforcement Officer is set to sell a fleet of Vijay Mallya's cars in the UK as part of efforts to recover loan repayment dues owed by the beleaguered liquor baron to a consortium of 13 Indian banks, the banks' legal representative confirmed on Friday.
TLT LLP, the law firm which had won a landmark case in May when a UK High Court judge ruled in favour of the Indian banks and concluded they were entitled to recover funds amounting to nearly 1.145 billion pounds, said the sale of six cars owned by the 62-year-old former Kingfisher Airline boss and related concerns will take place following a UK High Court enforcement order last week.
The cars listed in the order include a range of luxury vehicles, some with personalised registration numbers a 2016 Mini Countryman (AD16 1YX); a 2012 Maybach 62 (VJM1); a 2006 Ferrari F430 Spider (B055 VJM); a 2014 Range Rover Autobiography Supercharged (F1 VJM); a Ferrari F512M (M811 VGR); and a Porsche Cayenne (OO07 VJM).
"We can confirm that the High Court Enforcement Officer has acted on the banks' instructions in seizing and selling these cars. The cars are expected to be sold shortly," said Paul Gair, partner at law firm TLT, who is leading the case on behalf of the Indian banks.
"This is one part of the banks' ongoing enforcement of their judgment against Dr Mallya," he said.
In an enforcement order dated October 11, Justice Sara Cockerill had granted an order for a High Court Enforcement Officer to sell the six cars "by private treaty at a price not less than 404,000 pounds plus VAT".
A further cost of making the application, assessed at 1906.10 pounds, was also added to the overall debt amount.
The latest enforcement order follows a previous order by Justice Bryan on June 26, granting permission to the UK High Court Enforcement Officer to enter Mallya's properties in Hertfordshire, near London. It permits the officer and his agents entry to Ladywalk and Bramble Lodge in Tewin, Welwyn, where Mallya is currently based.
However, the order is not an instruction to enter, which means the banks have the option to use the order as one of the means to recover estimated funds owed to them in relation to money lent to Mallya's now-defunct Kingfisher Airlines.
The litigation in the Queen's Bench Division of the commercial court in England's High Court of Justice involves the State Bank of India, Bank of Baroda, Corporation bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt Ltd as the applicants.
Mallya and related concerns Ladywalk LLP, Rose Capital Ventures Ltd and Orange India Holdings are listed as respondents.
TLT had acted for the Indian banks in successfully defeating two applications earlier this year first, an application to set aside the first recorded case of a judgment of the Debt Recovery Tribunal (DRT) in India being registered by the English High Court, and the second, to discharge an associated worldwide freezing order.
The worldwide freezing order prevents Mallya from removing any assets from England and Wales up to that value or to in any way dispose of, deal with or diminish the value of his assets in or outside of this jurisdiction, up to the same value.
Mallya, separately fighting his extradition to India on fraud and money laundering charges amounting to nearly Rs 9,000 crores, is set to find out if he can be forced back to face Indian courts on December 10, when Westminster Magistrates' Court in London is set to rule in his extradition case.
His defence team has deposed a series of expert witnesses to claim he had no "fraudulent" intentions and that he is unlikely to get a fair trial in India.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Another North Goa nightclub sealed; Kejriwal says corruption led to fire tragedy
Panaji (PTI): As part of a crackdown against tourist establishments violating laws and safety norms in the aftermath of the Arpora fire tragedy, Goa authorities on Saturday sealed a renowned club at Vagator and revoked the fire department NOC of another club.
Cafe CO2 Goa, located on a cliff overlooking the Arabian Sea at Vagator beach in North Goa, was sealed. The move came two days after Goya Club, also in Vagator, was shut down for alleged violations of rules.
Elsewhere, campaigning for local body polls, AAP leader Arvind Kejriwal said the fire incident at Birch by Romeo Lane nightclub at Arpora, which claimed 25 lives on December 6, happened because the BJP government in the state was corrupt.
An inspection of Cafe CO2 Goa by a state government-appointed team revealed that the establishment, with a seating capacity of 250, did not possess a no-objection certificate (NOC) of the Fire and Emergency Services Department. The club, which sits atop Ozrant Cliff, also did not have structural stability, the team found.
The Fire and Emergency Services on Saturday also revoked the NOC issued to Diaz Pool Club and Bar at Anjuna as the fire extinguishers installed in the establishment were found to be inadequate, said divisional fire officer Shripad Gawas.
A notice was issued to Nitin Wadhwa, the partner of the club, he said in the order.
Campaigning at Chimbel village near Panaji in support of his party's Zilla Panchayat election candidate, Aam Aadmi Party leader Kejriwal said the nightclub fire at Arpora happened because of the "corruption of the Pramod Sawant-led state government."
"Why this fire incident happened? I read in the newspapers that the nightclub had no occupancy certificate, no building licence, no excise licence, no construction licence or trade licence. The entire club was illegal but still it was going on," he said.
"How could it go on? Couldn't Pramod Sawant or anyone else see it? I was told that hafta (bribe) was being paid," the former Delhi chief minister said.
A person can not work without bribing officials in the coastal state, Kejriwal said, alleging that officers, MLAs and even ministers are accepting bribes.
