Liquor businessman Vijay Mallya did not get permission to appeal against an order of the UK High Court on Wednesday, by which the court refused to dismiss the insolvency proceedings initiated in the context of the closed Kingfisher Airlines loan.
This bankrupt proposal was initiated by a group of Indian banks led by State Bank of India (SBI). The 65-year-old businessman, who is out on bail within the UK, had filed a contemporaneous appeal against the order of the UK High Court, which postponed the proceedings of the chapter until the Supreme Court of India imposed a debt problem. Has not been selected.
Mallya’s lawyer, Philip Marshall, argued that the financial institution chapter should be dismissed, not merely postponed because the debt is disputed and being deliberately pulled in Indian courts. Justice Colin Birs noted during the hearing of the Appellate Division of the High Court in London, “While this may be a new level (before the appellate court’s docket), I do not settle it as an inexpensive foundation appeal, this As a result of the issue
Can be handled in the listening course, which is ongoing. “
Mallya’s lawyers raised the issue of misuse of procedure by banks in relation to alleged undisclosed securities in India. However, the decision mentioned that it had already been dismissed. State Bank of India (SBI) has registered chapter circumstances against Vijay Mallya led by 13 banks. In this regard, Vijay Mallya’s property value is deposited with the Gol Gol 29 million Court Fund Office (CFO).