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Vijay Mallya asked to cough up Rs 1.5 crore towards banks’ legal costs

By Vicky Nanjappa
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    London, Aug 16: Spelling more trouble for former liquor baron, Vijay Mallya, the London High Court has directed him to pay a further Rs 1.5 crore towards the legal fees of a consortium of Indian banks after losing his high court case against them.

    Vijay Mallya asked to cough up Rs 1.5 crore towards banks’ legal costs

    Mallya has already paid Rs 1.8 crore in legal costs. With the fresh order, Mallya would in total cough up a total of Rs 3.3 crore in legal costs.

    Mallya had also reached a settlement with the banks on August 13. Following this, the judge said, " upon first defendant (Mallya) having made a payment of 2,00,000 pounds to the claimants on account of their costs pursuant to the costs order, it is by consent ordered that the first defendant shall within 60 days of this order pay a further sum of 1,75,000 pounds in full and final settlement of the claimants' cost pursuant to the costs order."

    Mallya it may be recalled had sought permission to appeal against the May 8 order of the London High Court verdict in which the application to set aside the registration of the Bengaluru Debt Recovery Tribunal was dismissed. It was stated in the judgment of the tribunal that he owed a consortium of 13 Indian banks Rs 6,202 crore as of January 19 2017 (now Rs 9,900 crore).

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