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Vijay Mallya loses battle against Singapore’s BOC Aviation, told to pay $90 million in claims

The company had claimed that Kingfisher Airlines had paid an insufficient amount in security deposit for the leasing of four aircraft.

The United Kingdom High Court has awarded Singapore-based BOC Aviation an estimated $90 million (approximately Rs 579 crore) in claims in a case involving beleaguered liquor baron Vijay Mallya’s now-defunct Kingfisher Airlines. The case is related to the leasing of an aircraft back in 2014 by Kingfisher Airlines and the judgment was passed on February 5, PTI reported.

BOC Aviation had claimed that it had a leasing agreement with Kingfisher Airlines involving four planes, of which three were delivered. The delivery of the fourth plane was, however, withheld as a result of unpaid advance amount as per the agreement.

The Singaporean company had claimed that Mallya’s airlines did not pay enough money as security deposit to cover the payments that Kingfisher is “contractually bound” to make, PTI reported. The judgment awarded BOC Aviation the amount overdue along with interest payments and legal costs.

Mallya is wanted in India on charges of defrauding banks of more than Rs 9,000 crore. The businessman, who has been in the United Kingdom since March 2016, had said he would not return to India.

India’s Ministry of External Affairs had submitted an extradition request to the United Kingdom on February 9, 2017, after Mallya made his self-imposed exile clear. The request was made on the basis of an extradition treaty signed between the countries in 1992.

Mallya has been granted bail until April 2. The next hearing in his extradition trial is scheduled for March 16.

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