London, November 21: Liquor baron Vijay Mallya once called the "King of Good Times" on Wednesday has got into the trouble again after the United Kingdom court asked him to pay UBS investment bank a minimum of 88, 000 pounds as legal costs, reported Times Now. On 10 May 2018, the UK Court has said that Mallya can be regarded as a “fugitive from justice”. Vijay Mallya Extradition Trail: IDBI Officials Knew of Losses at Kingfisher, Claims Mallya’s Lawyer.
Earlier in October, Mallya sought a stay on a special court hearing on an application by the Enforcement Directorate (ED) of India to declare him a 'fugitive economic offender' so that all of his properties can be confestigated. Liquor tycoon, through his lawyers, filed an application in the UK court stating that the properties mentioned in the ED's plea are also included in an appeal before the Appellate Tribunal involving 13 banks. Vijay Mallya Case: CBI Refuses to Disclose Records on How Look out Circular Was Changed
“It is pertinent to note that the very same properties referred to in the order are included in the list of properties, the confiscation of which is prayed for by the applicant (ED) before this court under section 12 of the Fugitive Economic Offenders, 2018,” his application said. Vijay Mallya has been accused of frauding Indian banks approximately Rs 9,000 crore (US Dollar 1.3 billion) in loans which he routed to gain 100 per cent or partial stake in 40 companies.