The ruling was stayed till January 18 to enable parties affected by the order to appeal before the Bombay High Court.
#VijayMallya trended on Twitter.
One user tagged @kingfisherworld and asked: "The caption 'New year same beer' sounds so boring! Has #VijayMallya run out of all money to hire a good creative writer also?"
Another user said: "India opens it's door for all Hindus who are religiously persecuted in Pakistan. UK opens it's door for all Hindus who are economically and politically persecuted in India as claimed by #VijayMallya and #LalitModi."
One post read: "Posing with 'assets' of Kingfisher Calendars not so long ago to courts allowing banks to use assets seized from him today, not a good start for #KingofGoodTimes. #VijayMallya! #HappyNew2020."
One user asked" "Wasn't @TheVijayMallya settling the matter for Rs 6,000 crore itself a few years ago? Just saying... #VijayMallya."
A user commented: "Lagta hai Vijju tera maal aaya nahi gaya (it seems Vijay, your money has not come but gone)."
One user asked what will happen to the loan of those who can't prove their Indian citizenship and have bank debt running into crores. To this another remarked: "He will become Vijay Mallya, Nirav Modi, and Mehul Choksi."
( With inputs from IANS )