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Court allows liquidation of Vijay Mallya's assets

Court allows liquidation of Vijay Mallya's assets

Wednesday, January 1, 2020, 1:43 PM

A special-purpose court dealing with money-laundering offenses has allowed banks that lent money to Vijay Mallya to utilize the embattled liquor baron's seized assets, which could fetch the lenders about Rs.11,000-crore more than what they had advanced. However, PMLA court in Mumbai also said the ruling has stayed till January-18 until which all parties affected by the order could appeal to the Bombay HC.
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