In a major development, according to Times of India report, a UK court has ordered Vijay Mallya, along with entire family to be evicted from his London home. Reportedly Swiss bank USB will take possession of Mallya's house. Swiss bank UBS will now take possession of the luxury townnhouse, 18/19 Cornwall Terrace, which overlooks Regent's Park in London. Mallya, who owes 17 Indian banks an estimated Rs 9,000 crore, is accused of fraud and money laundering in the country.
Just before leaving the country in 2016, Mallya wrote an open letter defending himself. “All enquiries conducted have failed to find evidence of misappropriation of funds by Kingfisher Airlines or myself,” Mallya said. “Despite pledging blue-chip securities and depositing significant amounts in court, a successful disinformation campaign has ensured my becoming the poster boy of all bank NPAs. ”The Indian government is making all efforts to extradite Mallya from the UK. In February 2019, UK Home Secretary approved the extradition. The case is now pending in the London High Court, where Mallya filed an appeal against the order.