Vijay Mallya was declared bankrupt by UK court, debts can be realised by respective banks

A British Court granted a bankruptcy order against Vijay Mallya and thereby paving the road for a syndicate of Indian lenders led by the State Bank of India to seek repayment of amounts owed by the now-defunct Kingfisher Airlines through a worldwide freezing order.

Chief Insolvencies and Companies Court (ICC) judge, Michael Briggs stated “ I adjudicate Dr. Mallya bankrupt” in his ruling during a virtual hearing of the Chancery Division of the High Court. He still remains on bail in the UK while simultaneously a confidential matter with respect to an asylum application in connection with the extradition process.