London sources stated that embattled liquor tycoon Vijay Mallya has lost another legal battle linked to his now defunct Kingfisher Airlines after the UK High Court awarded an estimated USD 90 million in claims. Meanwhile the latest case involving the businessman, whose extradition case over alleged loan, defaults amounting to around Rs 9,000 crores returns to Westminster Magistrates' Court in London on March 16, is related to the leasing of aircraft by Kingfisher Airlines dating back to 2014.
Meanwhile Justice Picken, in a judgment dated February 5 ruled that "the defendants have no real prospect of successfully defending the claim". Further the defendants in the claim brought by BOC Aviation in Singapore and BOC Aviation (Ireland) Ltd have been named as Kingfisher Airlines Ltd and United Breweries (Holdings) Ltd.
Accordingly the latest ruling comes weeks before India's extradition case
against Mallya is set to come up for one of its final hearings before Chief
Magistrate Emma Arbuthnot on March 16, with a judgment expected in May.
Moreover the businessman remains on a 650,000-pound bail bond, extended until
April 2 at the last hearing in the extradition case in January.
Saudi Arabia auctions real estates of billionaire Maan al-Sanea Riyadh sources stated that Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors. Meanwhile sources familiar with the matter told Reuters, Sanea ranked by Forbes in 2007 as one of the world's
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