Vijay Mallya case: Indian banks have good news

Vijay Mallya case: Indian banks have good news

A UK Court has ordered that seizure of Vijay Mallya’s UK assets can be had.  This ruling favours the consortium of 13 Indian banks.

This order could also pave way for the extradition of the disgraced liquor baron.  "The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London," says Amrita Bhinder, a tax lawyer.

"The High Court Enforcement Officer, including any Enforcement Agent acting under his authority, may use reasonable force to enter the Property if necessary," the order states.  

The order comes days after Mallya offered to settle his dues to Indian Public Sector Banks.