Vijay Mallya declared bankrupt for Indian banks to realise debt

It paves way to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.

A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the SBI to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. “As at 15.42 [U.K. time], I adjudicate Dr. Mallya bankrupt,” Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the High Court here. The Indian banks, represented by the law firm TLT LLP and barrister Marcia Shekerdemian, had argued for the bankruptcy order to be granted in favour of the Indian banks.