London: The UK High Court has ordered embattled liquor tycoon Vijay Mallya to pay a minimum of 200,000 pounds towards the costs incurred by 13 Indian banks in their legal battle to recover alleged dues.
Last month, Judge Andrew Henshaw had refused to overturn a worldwide order freezing Mallya’s assets, and upheld an Indian court’s ruling that a consortium of 13 Indian banks led by SBI were entitled to recover funds amounting to nearly 1.145 billion pounds.
As part of the judgment, the court has also ordered Mallya, 62, to pay costs towards registration of the worldwide freezing order and of the Debt Recovery Tribunal (DRT) of Karnataka’s judgment in Britain.
Meanwhile, Mallya is due back at Westminster Magistrates’ Court in London next month for one of the final hearings in his extradition case.
Mallya ordered to pay at least £200,000 towards costs incurred by 13 Indian banks in their legal battle to recover alleged dues.