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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&nbsp;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.

Vijay Mallya

 UK court

 liquor baron

 liquor baron Vijay Mallya

 Business & Economy News

 wionews.com

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.