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Vijay Mallya asks the London court for cash to pay her legal fees in India | India News


LONDON: The indebted tycoon Vijay Mallya submitted a request for £ 758,000 (Rs 7.8 crore) from the judicial funds office in London to pay his lawyers in India, saying that he cannot pay for them himself due to his assets being frozen during the bankruptcy proceedings. against him are ongoing.
The request was filed as an appeal in the Chancery Appeals division of the superior court on Tuesday against a ruling by ICC Deputy Judge Barnett in February this year in which Barnett allowed his historical and future legal fees for defending his petition. bankruptcy and his £ 22,500 (23 lakh rupees) monthly living expenses come from the court funds office, but exclude the payment of his lawyers in India.
Judge Barnett had allowed Mallya access to £ 1.2 million (Rs 12 crore) in total from the court funds office, the source of which was the sale of € 3.3 million (Rs 29 crore) of Mallya’s property. Le Grand Jardin in Cannes, France.
The court heard that Mallya owed law firms in India £ 555,000 (Rs 5.7 crore) and that he needed £ 203,000 (Rs 2 crore) for future legal costs in India.
Philip Marshall QC, representing Mallya, said that his client would not be able to attend these cases himself because he would be “incarcerated.” He said there were three sets of proceedings: Mallya’s settlement offer that is before the Supreme Court of India, her challenge of the 11.5% interest charged on the judgment debt, and the fugitive economic criminal process. you are contesting. Marshall argued that all three were inextricably linked to bankruptcy proceedings, noting that if Mallya were successful in challenging the interest rate, the judgment’s debt would be halved to £ 569 million (Rs 5,851 crore) and could comply with the rest through their remaining assets, their realized assets and contributions from third parties. He said that if the settlement agreement is approved, all the debt of the judgment will be eliminated.
“It is quite offensive not to allow us to instruct lawyers in India and then complain that there has been no progress on these cases in India,” Marshall said. He argued that the lack of funds was the reason why the procedures in India were not progressing, as well as the pandemic. “You don’t get any further unless you push and encourage the court to try to list your matter and move it forward. There is no one in India pushing for Mallya. Her Indian lawyers are not prepared to extend credit indefinitely and they do. She needs to. We are talking about cases in India that are heavy and complex and you cannot carry them out as you are not in India and you cannot go there as things are currently. They are intrinsically linked to the defense of the petition . ”
He even referred to the lavish funeral that the late BBC presenter Jimmy Savile had been allowed despite his insolvent estate being sued by alleged victims of sexual abuse as an example of the expenses bankrupt estates sometimes had to cover.
Marshall submitted a letter from his Indian attorneys proposing that a cost expert from the Indian court verify his costs, which Tony Beswetherick, representing the banks, said his clients did not want imposed on them. Beswetherick added that Mallya’s assets in India amounted to £ 230 million (Rs 2,365 crore), which was not enough to meet her debts, even if it was cut in half by the interest rate challenge. The ruling will be issued on Wednesday.

Times of India