The liquor baron Vijay Mallya, declared a fugitive in a bank fraud case of crores, has received financial assistance from the High Court of London to meet his legal and living expenses. The London High Court has decided to give 11 million pounds (about Rs 11 crore) to Mallya from his fund.
Deputy Insolvency and Companies Court Judge Nigel Barnett held a hearing by a group of Indian banks led by SBI to give Mallya access to the funds deposited in the Court's Fund Office as an insolvency proceeding.
According to the new order, Mallya has been allowed to withdraw some money from the court's fund. With this money, he will be able to pay his living expenses and legal process. During the hearing, the judge said, in this case, Mallya has been successful on two aspects so far, while the petitioner Indian Bank has been largely successful in putting aside against Mallya's application.
The court said it is natural to have legal expenses on hearing the application, now the question is how will this expense be paid. Therefore, Mallya should be given money from the court fund to pay this expenditure, although the court said that after the decision in the bankruptcy case, where and under what money Mallya spent this money will be investigated.