Embattled Indian tycoon Vijay mallya could not care less about court enforcement officers seeking to seize his British assets, and said he will comply fully. He however added that there was not much for them to take as his family's lavish residences were not in his name. The 62 year old former liquor baron said he would hand over British assets held in his name. But a luxury country residence belonged to his children and a house in London belonged to his mother, making them virtually untouchable.
“I have given the UK court on affidavit a statement of my UK assets. Which, pursuant to the freezing order, they are entitled to take and hand over to the banks. There's a few cars, a few items of jewellery and I said, 'OK, fine. You don't have to bother to come to my house to seize them. I'll physically hand them over. Tell me the time, date, and place. There's no question of being homeless because at the end of the day, they are entitled to take my assets in my name declared on oath to the court. They can't go one step beyond,” Mallya said.
India wants to extradite the businessman who faces charges of fraud as a group of Indian banks seek to recover over $1 billion of loans granted to his defunct Kingfisher Airlines. A verdicted is expected by early September. July 31 is the final date for closing oral submissions and appeals likely whatever the outcome. Mallya said a super-yacht he used to entertain at races in Monaco and Abu Dhabi, which was recently sold at auction in Malta, was not his problem either. “I have not owned the Indian Express boat for more then seven years now,” he said.
The beleaguered businessman has been in Britain since he left India in March 2016, unable to travel after his passport was revoked, so the annual British Grand Prix is the only race he has been able to attend since then. The Enforcement Directorate seeks to declare him a “fugitive economic offender” and to confiscate Rs 125 billion worth of his assets. Mallya has already denied all charges, decried “political witchhunt” and said he is seeking to sell assets worth Rs 139 billion to repay creditors.
