Dikhyaa Mohanty 
UK court declared fugitive Indian businessman Vijay Mallya, the chairman of now-defunct Kingfisher Airlines, as “bankrupt”. Mallya is wanted in India for Rs 9,000 crore loans defraud.
According to the reports, the UK court order comes as a massive boost for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of assets owned by Mallya’s Kingfisher Airlines, both in India and abroad, to repay its debt.
Chief Insolvencies and Companies Court Judge Michael Briggs stated that as at 15.42 (UK time), he adjudicates Dr Mallya bankrupt. He stated during the virtual hearing of the Chancery Division of the London High Court.
The consortium of banks led by SBI had argued for the bankruptcy order to be granted in their favour. The Indian banks were represented by the law firm TLT LLP and barrister Marcia Shekerdemian.
