Is Vijay Mallya really in trouble?
Vijay Mallya on Tuesday lost a United Kingdom lawsuit filed by Indian public sector banks, which have sought to collect over $1.55 billion (Rs 10,000 crore) from him. It's known that Mallya owes more than Rs. 9000 crore to different Indian banks.
Of what use is the latest UK court ruling? Indian banks can attach his assets in England and Wales. However, this is just a technical explanation.
“The game isn’t over for him. That’s for sure. Even in India, there have been court orders to attach his assets but how much has been achieved so far?” columnist Dinesh Unnikrishnan quotes a banker as saying.
As such, gloating over the latest legal victory is premature!