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UK court asks Vijay Mallya to pay £88,000 to UBS bank

File photo. Photograph:( Zee News Network )

WION Web Team New Delhi, Delhi, India Nov 21, 2018, 07.18 PM (IST)

A UK Court on Wednesday asked absconding liquor baron Vijay Mallya to pay 88 thousand pounds to the investment banking company UBS.

UBS Group AG, a Swiss multinational investment bank and financial services company had earlier sought the possession of Mallya's property in London.

The group tried to foreclose on a 26.6 million dollar mortgage loan on former billionaire Vijay Mallya's London house, which overlooks London's regent’s park.

Mallya had used the property as a family home.

Mallya who’s battling extradition in a separate case had taken a loan from the UBS bank for his posh family home in London.

Story highlights

UBS Group AG, a Swiss multinational investment bank and financial services company had earlier sought the possession of Mallya's property in London.