Banks can now sell Mallya's England assets to recover debt
A UK High Court ruling has allowed 13 Indian banks to sell embattled liquor tycoon Vijay Mallya's assets in England and Wales to recover debt. The court upheld Karnataka Debt Tribunal's ruling which said Mallya was liable to pay over â¹10,000 crore. It refused to overturn a worldwide freezing order that prevents Mallya from removing or diminishing his assets.