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Indian Tycoon Can't Change Defense In £20M UBS Case

Law360, London (November 21, 2018, 5:58 PM GMT) -- A London court prevented an Indian tycoon on Wednesday from making sweeping changes to his defense against UBS AG, undermining his battle to stop the bank from foreclosing on a £20.4 million ($26 million) mortgage loan.

The High Court ruled that Vijay Mallya — a former politician who India wants to extradite on unrelated criminal charges — was stuck with the majority of his civil defense against the Swiss lender. UBS is suing Mallya, his brother, his 92-year-old mother and Rose Capital Ventures Ltd., which took out the mortgage, for possession of a home overlooking London Regent’s Park.

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