Mallya loses Rs 10,000 crore UK lawsuit filed by Indian lenders
The 62-year-old Business tycoon Vijay Mallya loses UK lawsuit filed by 13 Indian banks in the UK High Court seeking to collect 1.15 billion pounds ($1.55 billion or over Rs 10,000 crore). Mallya is fighting with many lawsuits over money laundering allegations and fraud. While lawyers refused to comment after the hearing. Mallya was arrested on April 18 in London after a warrant issued by Indian authorities.