Indian banks win UK court order to seek details of Mallya's asset ownership
Two superyachts, a game reserve, numerous undeclared high-value and vintage cars, valuable paintings and a piano previously owned by Elton John are among the assets in contention as part of a latest legal claim by Indian banks against embattled liquor tycoon Vijay Mallya in the UK High Court on Monday.
Justice Robin Knowles, presiding over the hearing in the Commercial Court division of the High Court, ruled that he was satisfied that a consortium of Indian banks led by SBI have a right to the documents they are seeking to establish the true ownership of the assets they believe are linked with the Mallya.
"I consider the test to be satisfied and I don't take that view lightly. I do take the view that without this disclosure the consequences are highly unsatisfactory for a judgment creditor [Indian banks] and from the vantage point of progressing towards a fair conclusion of the matter and a conclusion that is cost effective," said Judge Knowles in his ruling.
"Frankly, the answer ...