LONDON: Deputy Judge High Court Marsh has reserved the judgment whether to get an order for ownership of the multi-million pound-pound vijay mallya townhouse, 18/19 Cornwall Terrace, which faces the Regent in London.
Swiss Bank UBS AG has obtained permission to issue a permit from Mallya, his son Sidhartha and Mrs.
Lalitha, who lived there, as well as registered companies British Virgin Islands Rose Capital Ventures Ltd., in October 2021 from Deputy Master Bowles in the London High Court.
Bank wants to expel Mallya’s family and sell a house after Rose Capital, who owns property, mortgage property to UBS as a guarantee for a five-year loan of £ 20.4 million (Rs 200 Crore) in 2012.
Loans ended on March 26, 2017, and balance payable On that date it was not paid.
Rose Capital is owned by Sileta Trust, a Malla Family Trust.
On Monday Rose Capital tried to keep saying that it needed more time to realize assets to pay for the lender again.
UBS said it was against the stay and wanted to continue with the ownership process because this problem had been postponed several times since 2017.