Vijay Mallya's weekly living allowance increased from Rs 4.5 lakh to 16 lakh
File photo of Vijay Mallya. Photograph: (Zee News Network)
The London High Court on Tuesday increased absconding liquor baron Vijay Mallya's weekly living allowance by £13,325, approximately Rs 16 Lakh in India.
The court in its order hiked the allowance from £5,000 (Rs 4.5 lakh) to £18,325 (Rs 16 lakh).
However, the order did not revoke the freeze order on his global assets.
After the hike, Mallya's weekly allowance equates to the average annual salary of a British school leaver.
“If he is used to a luxury lifestyle then the court will not suddenly make him live on £200 (Rs 17,000) a week,” said Sarosh Zaiwalla, senior partner at Zaiwalla & Co. LLP London.
“He is entitled to legal expenses on top. The judge considers his style of living to reach a fair result,” he added.
Meanwhile, the 62-year-old has applied to have the freeze order against his global assets discharged and the registration of the judgment of the Debt Recovery Tribunal (DRT) in Bengaluru dated January 19, 2017 with the English courts, set aside.
A hearing is set to take place at the high court on April 16 and 17.
The DRT judgment, which 13 Indian banks registered with the English courts under the Foreign Judgments (Reciprocal Enforcement) Act of 1933 last November, states Mallya owes banks Rs 9,853 crore as of November 22, 2017.
The freeze order is an interim measure until that judgment is enforced.
Earlier this week, Mallya lost another legal battle linked to his now- defunct Kingfisher Airlines after the UK High Court awarded Singapore-based BOC Aviation an estimated $90 million in claims.