Swiss Bank UBS on Thursday, called for the foreclosure of Indian businessman and fugitive Vijay Mallya’s luxurious London house, after the United Kingdom (UK) High Court rejected further arguments presented by Mallya’s legal body during the today’s trial on this matter.
Mallya has issued 20.4 million pounds mortgage for his luxury property in London, where he failed to pay back to UBS. The judicature has issued an order to Mallya to pay back 88,000 pounds to UBS within the given time deadline.
In UK apex court, the property was referred as the “high-class home for Dr Vijay Mallya and his family members and United Breweries Group corporate guests”. However, the court is expected to deliver its ruling by the end of this year.