A United Kingdom Judge has issued an enforcement order in favor of a consortium of 13 Indian banks, seeking to retrieve funds owed to them by beleaguered liquor baron Vijay Mallya who is fighting extradition to India on fraud and money laundering pleadings worth nearly Rs. 9,000 crore.
The order grants approval to the UK High Court Enforcement Officer to get into the 62-year-old tycoon’s possessions in Hertfordshire, near London.
It permits the officer and his agent’s entry to Ladywalk and Bramble Lodge in Tewin, Welwyn, where Mallya is presently based. However, it is not an instruction to enter, which means the banks have the option to use the order as one of the ways to retrieve approximated funds of around 1.145 billion pounds.
“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 order by Justice Byran, dated June 26.
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“The High Court Enforcement Officer, including any Enforcement Agent acting under his authority, may use reasonable force to enter the Property if necessary,” it states.
“The High Court Enforcement Officer, including any Enforcement Agent acting under his authority, may use reasonable force to enter the Property if necessary,” it states.
According to legal experts, the latest order by the High Court’s Queen’s Bench Division is the granting of permission, should it be required, while the banks consider “all the enforcement options available to them”.
The order relates to the UK’s Tribunal Courts and Enforcement Act 2007 and follows a UK High Court ruling in May, which refused to overturn a worldwide order freezing Mallya’s assets and upheld an Indian court’s ruling that the Indian 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 English High Court, setting a legal precedent.
The victory for the 13 Indian banks enables them to enforce the Indian judgment against Mallya’s assets in England and Wales.
Vijay Mallya has made an application in the Court of Appeal seeking permission to appeal against the order, which remains pending.
By Sowmya
