A U.K., High Court Judge granted an enforcement order in favor of 13 Indian banks. Each bank is seeking recovery of funds owed to them by the liquor baron Mallya. Mr. Mallya is in the U.K., fighting extradition to India on money laundering and fraud charges.
This order permits the U.K., High Court Enforcement Officer to inspect Mallya’s properties in Hertfordshire, London. The order by the Justice reads, “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.”
It further stated, “The High Court Enforcement Officer, including any Enforcement Agent acting under his authority, may use reasonable force to enter the Property if necessary.” Reports have showed Mallya is cooped up in the Bramble Lodge.
This gives the banks an opportunity to use the order to recover funds owed to them by the 62 year old tycoon.
The order was filed under the Tribunal Courts and Enforcement Act 2007 in the U.K. In May, the High Court also refused to overturn the order that freezes all of Mallya’s assets worldwide. The order upholds an Indian Court’s ruling of entitling the Indian banks to recover funds.
The liquor baron Mallya is facing investigation by the CBI and ED and is accused of defrauding Indian banks. The CBI claims a total of Rs. 9,000 crores was swindled by Mallya.
Mr. Mallya left India in 2016 and was arrested in 2017 by the Scotland Yard on an extradition warrant. He was later let out after the Court accepted his bail plea.
