Vijay Mallya declared bankrupt by UK court

The UK high court issued a bankruptcy order against the Indian businessman Vijay Mallya last month. The order will pave the way for a consortium of Indian banks, led by the State Bank of India (SBI), to pursue a worldwide freezing order on Mr Mallya’s assets in a bid to seek the repayment of debts owed by the liquor baron’s now-defunct company Kingfisher Airlines. Mr Mallya, 65, is wanted in India for fraud and money laundering charges. The consortium of Indian banks was represented by a law firm named TLT LLP and barrister Marcia Shekerdemian.