21
Friday
September 2018
12:11 PM IST
News Headlines
Kannur International Airport: Kerala to be the first state with four international airports        Kim, Moon join hands on peak of sacred North Korean volcano        Birthday boy Rashid stars in Afghanistan's 136-run win against Bangladesh        Shahbaz Nadeem claims eight wickets; breaks List A world record        CAT 2018: Registration extended to Sept 26; Admit card to Release on Oct 24        BAI distributes 1.6 crore to state Association        Rodrigues, Yadav help Indian women take 1-0 lead in T20 series        Sensex recovers over 100 points on value-buying, global cues        Deepak Kapoor Appointed the new Chairperson of Save the Children        Palestinian schools strive to modernize classrooms        Trump: Declassified Russia probe papers expose 'bad things'        2 history-sheeters arrested following encounter: Police        Attack on Cong workers in Chhattisgarh is political persecution: Rahul Gandhi        Cabinet clears ordinance to make triple talaq penal offence Law Minister        Instant Triple Talaq to be criminal offence        Viswasam- On set photos leaked        Aiswarya- Abhishek's Gulab Jamun would go on floor in mid 2019        China Open: Sindhu enters pre-quarters, Saina loses        Didn't expect Arjuna this year: Hima Das        RCom to exit telecom fully to focus on realty: Ambani        
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International News
Vijay Mallya's UK Home Can Be Searched, Assets Seized In Win For Banks
 
(London, July 05, 2018):Fugitive tycoon Vijay Mallya's home can be searched and his assets can be seized as a means of recovering the money he owes banks in India in unpaid loans, following an enforcement order by a UK judge.

The enforcement order gives 13 banks the legal option of entering the properties of Vijay Mallya, who is fighting extradition to India on fraud and money-laundering charges.

A UK enforcement officer "may use reasonable force to enter the property if necessary," it says.

The banks can now enforce the Indian court ruling freezing his wealth in England and Wales.

The order allows the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire near London. The officer and his agents can enter Mr Mallya's home in Ladywalk and Bramble Lodge in Tewin, Welwyn. Banks have the option to use the order to recover estimated funds of around Rs. 9,000 crores.

"The High Court Enforcement Officer, including any enforcement agents acting under his authority, may enter Ladywalk, Queen Hoo Lane, Tewin, Welwyn and Bramble Lodge, Queen Hoo Lane, Tewin, Welwyn, including all outbuildings of Ladywalk and Bramble Lodge to search for and take control of goods belonging to the First Defendant (Mallya)," notes the June 26 order by Justice Byran.

India's extradition case comes up in a UK court on 31 July.

In May, the UK High Court had refused to scrap a worldwide order freezing Mallya's assets; the court upheld the Indian court's ruling that banks were entitled to recover funds.

It marked the first recorded case of a judgment of the Debt Recovery Tribunal (DRT) in India being registered by the British High Court, which set a legal precedent.

Mallya has made an application in the Court of Appeal seeking permission to appeal against the order, which remains pending.

Last month, Mallya said in a statement that he had sought approvals from a court in Karnataka to sell seized assets worth Rs. 13,900 crores to repay creditors including banks. He also released a two-year-old letter to Prime Minister Narendra Modi and said he was "making every effort" to settle his dues but he had been made the "Poster Boy" of bank default and a lightning rod for public anger.

The liquor baron flew to the UK in 2016, when the banks had just launched efforts to recover dues from him.


Kim, Moon join hands on peak of sacred North Korean volcano
Palestinian schools strive to modernize classrooms
Trump: Declassified Russia probe papers expose 'bad things'
100 die in severe flooding in Nigeria: relief agency
Pak govt, Opposition agree for parliamentary probe into vote rigging charges
Air Tanzania to soon resume direct flights to India
Imran Khan govt auctions 70 luxury cars as part of austerity drive
Time Magazine sold to Marc Benioff for $190 million
Hurricane Florence: Death toll mounts to 14
Death toll rises to 8 as Florence pours on the rain
Evacuations underway as huge typhoon nears Philippines
South and North Korea open first liaison office for better communication
Amid deep budget cuts, $52,701 spent on curtains for Nikki Haley’s official residence: Report
Japan's Abe expresses support for better Trump-Kim ties
Police: 1 man dead in North Las Vegas school shooting
Putin urges 'security guarantees' for NKorea denuclearisation
Trump in Pennsylvania on 9/11 to honor Flight 93 heroes
Over a million asked to evacuate as Hurricane Florence nears US East Coast
Pak court issues arrest warrants against former prime minister
Miss New York Nia Imani Franklin wins Miss America pageant
ENTERTAINMENT NEWS
Viswasam- On set photos leaked
 A few photos from the set of Ajith's Viswasam is going viral on social media. The photos show Ajith  
Aiswarya- Abhishek's Gulab Jamun would go on floor in mid 2019
Varun and Anushka signed as ambassadors of Skill India Campaign
Madhuri, Alia, Varun and to share screen
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
NATIONAL NEWS
CAT 2018: Registration extended to Sept 26; Admit card to Release on Oct 24
 CAT is one of the most sought after exam in the country for candidates possessing a Bachelor’s degre
2 history-sheeters arrested following encounter: Police
Attack on Cong workers in Chhattisgarh is political persecution: Rahul Gandhi
Instant Triple Talaq to be criminal offence
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