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Mallya, who fled to the UK and has been fighting on multiple fronts to avoid extradition to India, owes more than ₹9,000 crore to the consortium of banks in principal and interest. Mallya has been denied any right to appeal against the bankruptcy decision of the court.Īlso read | Banks get ₹792 cr more from Mallya The consortium of 13 banks lead by the State Bank of India (SBI) can now pursue a worldwide freezing order on Mallya’s assets in a bid to seek the repayment of debts owed by the now-defunct Kingfisher Airlines. The UK high court press office said in a statement that the companies and insolvency court passed the ruling declaring Vijay Mallya bankrupt, which is being seen as a major victory for the consortium of Indian banks. Incredible," Vijay Mallya tweeted on Monday.Īlso read | Vijay Mallya extradition: Shringla says UK govt gave 'best assurance'

"ED attach my assets worth 14K crores at behest of Govt Banks against debt of 6.2K crores.They restore assets to Banks who recover 9K crores in cash and retain security over 5K crores more.Banks ask Court to make me Bankrupt as they may have to return money to the ED. After being declared bankrupt by a British court allowing Indian banks to pursue his assets worldwide, Vijay Mallya launched a tirade on Twitter as he accused lenders pursuing of making him bankrupt.