Vijay Mallya says overseas assets only Rs 746 crore

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LONDON: Sahara Force India co-owner and former liquor baron Vijay Mallya spends £16,000 (about Rs 15 lakh) a month on maintaining his fleet of cars and his overseas assets, not including those of his wife and children, total $114 million (about Rs 746 crore), a London court has heard. Indian banks say Mallya owes them approximately Rs 9,000 crore.
Lawyers representing the Indian businessman were at the high court on Monday making an application to have the freeze on his global assets discharged and the registration of the judgment of the Debt Recovery Tribunal (DRT), Karnataka, in England set aside.

On November 24, 2017, the UK high court had registered in UK courts the January 19, 2017 DRT judgment that Mallya owed a consortium of 13 Indian banks Rs 6,203 crore plus interest and implemented a worldwide order freezing his assets up to the value of £1,145,000,000 (about Rs 10,000 crore).

The Indian banks were complaining about Mallya’s living expenses being allowed to be…

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