Judge Andrew Henshaw refused to overturn a worldwide order freezing 62-year-old Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to almost Dollars 1.55 billion (1.145 billion pounds). Here, it is worth mentioning that Indian banks got a freeze order against Vijay Mallya from United Kingdom high court on November 24, 2017.
Mallya fled in 2016, days before the Debt Recovery Tribunal's Jan 2017 verdict, claiming that he wished to be near his loved ones (children).
"In all these circumstances, and even taking account of the fact that Dr Mallya is contesting the alleged grounds for extradition, there are grounds for regarding Dr Mallya as a fugitive from justice", the judge said as part of his ruling. Mallya had also registered a case to set aside the orders of Indian DRT and discharge the freezing orders.
The judge, however, was less certain that luxury cars and yachts had been undeclared or disposed of by Mallya as claimed by the legal team representing the 13 Indian banks - State Bank of India, Bank of Baroda, Corporation bank, Federal Bank Ltd, IDBI Bank, Indian Overseas Bank, Jammu &a Kashmir Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co.
The 62-year-old former industrialist is waging another fight in a different court to block his extradition to India over financial irregularities and money laundering cases.
In April previous year, Mallya had been arrested by Scotland Yard on an extradition warrant. Since then he has been on bail of £650,000, living at his mansion in Tewin, Hertfordshire.
A super luxury yacht is owned by Vijay Mallya, before he abandoned it a year ago after his arrest on an extradition warrant in the UK.
Mallya has also said government agencies are pursuing a "heavily biased investigation" and holding him guilty without trial.
British attorneys representing the flamboyant Mallya have been claiming in court that conditions in Tihar jail in Delhi where he is expected to be kept if extradited are appalling and since he is a British citizen, they fear that he needs to be shielded from extradition.