Indian Beer Tycoon Allowed £1.2M For Legal Fees, Expenses

Law360, London (February 8, 2021, 4:45 PM GMT) -- A London judge allowed an Indian businessman on Monday to withdraw £1.2 million ($1.6 million) from a court fund to pay legal fees as he defends numerous proceedings in the U.K. and India accusing him defrauding lenders into backing a crumbling airline.

The sum approved by Insolvency and Companies Court Judge Nigel Barnett is less than half the £2.7 million Vijay Mallya had been seeking to pay for legal fees and living expenses. Mallya, a former beer and airline tycoon, is being pursued by several Indian lenders in the U.K. and India for a judgment debt of about £1.05 billion....

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