Vijay Mallya faces eviction from London home

Mallya's London home is owned by the British Virgin Islands registered firm, which mortgaged it to UBS in 2012 as collateral for a 5-year loan of 20.4 million pounds.

Vijay Mallya faces eviction from London home
Vijay Mallya. Source: Twitter

Indian fugitive businessman Vijay Mallya lost a legal battle with Swiss bank UBS and have been ruled to evict from his luxury Central-London home by the UK Hight Court on Jan. 18. Swiss bank UBS will now take possession of the luxury town house where Mallya and his family live.

After failing to fulfill a previous repayment date in April 2020, a judge in the High Court's chancery division denied Mallya's lawyers' plea for a stay on the repayment of the UBS loan.