Legault congratulates Kenney but says Quebec won't accept a new oil pipeline
SpaceX Falcon Heavy launch from Cape Canaveral successful
SpaceX Readies First Falcon Heavy Launch for Paying Customer
India claims space debris poses minimal threat
What makes the spring equinox so special?
Vijay Mallya loses United Kingdom case, Banks can now recover Rs 10000 crore
10 May 2018, 11:12 | Brenda Erickson
India businessman Vijay Mallya arrives for a hearing for his extradition case at Westminster Magistrates Court in London on April 27
"Today's judgment is a very important decision not just for our clients, who want to proceed in this jurisdiction with enforcing the judgment they secured against Dr Mallya in India, but also for Indian and worldwide banks more generally", Paul Gair from United Kingdom law firm TLT which represented the Indian banks in the London court said after court's decision.
Judge Andrew Henshaw, who upheld a worldwide freeze order and ruled in favour of 13 Indian state-owned banks to recover funds amounting to almost 1.145 billion pounds in a judgment Tuesday, took note of the fact that the 62-year-old businessman is contesting his extradition to India relating to "alleged financial misconduct".
Hawaii volcano EXPLOSION - fears major eruption on its way
It would be "very, very hazardous" if a volcanic vent were to open under the facility where the fuel is stored, the governor said. Those forces would emit "ballistic projectiles" - as small as pebbles or weighing up to several tons.
The banks can now enforce the Indian judgment and sell the businessman's assets in England and Wales to recover the crores in dues. The worldwide freezing order prevents him from removing any assets from England and Wales to outside.
"There is a risk of the value of Dr Mallya's assets deteriorating, and, or, being subject to claims by other creditors, and a risk of Dr Mallya being declared bankrupt", Henshaw wrote. Mallya was arrested in London previous year and is fighting another lawsuit to prevent extradition in a different court across town. He must not have had a good night's sleep since the consortium of banks that had lent him money for his venture Kingfisher Airlines started chasing him for Rs 9,000-crore default. He has been accepted as a wilful defaulter.
Self-Driving Car from Alphabet's Waymo Involved in Collision
Waymo began its self-driving vehicle business in 2009, at which point it was a part of Google, according to the company website . The latest crash of the Waymo self-driving auto is a reminder that the autonomous technology is still in its early stage.
Mallya's purchase of a Ferrari 246 GTS with an estimated value of 480,000 pounds was also questioned by the Indian banks.
The Crown Prosecution Service (CPS), representing the Indian government, has claimed it has successfully established a prima facie case of fraud against the businessman. Mallya›s defence that he had no "fraudulent" intentions fell apart. Now, he has little choice but to directly petition the UK's Court of Appeal, which is second only to the country's Supreme Court. The case is scheduled for a final hearing at the Westminster Magistrates Court on July 11. It has very clearly established that the British courts are willing to give weight and importance to and respect for judgments delivered in courts of India.
Mallya's lawyers argued that he has been a non-resident Indian since 1988 and has lived in England since 1992. Attorneys at law firm TLT said the ruling will allow them to enforce the underlying judgment by the Indian debt recovery tribunal immediately.
No longer a favourite, Woods happy to be in Players field
It proved how Rose, three years from his 40th birthday, is playing the game still because he loves it and he wants to win . A three-time victor of the Claret Jug, he has not contested the game's oldest major since 2015 because of injury.
Seventh miner rescued 4, at Poland after natural disaster
WUG said the quake was of a type that can occur in coal mines after the removal of deposits builds up tensions in the rocks. The saving was first launched at 11:25 a.m. local time Saturday. "We are doing all we can to save the miners", Ozon said.
Stocks Move Notably Lower After Fed Signals June Rate Hike
Equities tumbled in the final hour of trading as concern mounted that the Fed may let inflation run hot as it gradually tightens. The benchmark United States 10-year Treasury yield eased about 1 basis point in early Asian trade to 2.970 percent.
Rockies try to keep hits coming versus Cubs
After all, following a 1-for-4 outing Sunday, all-star third baseman Nolan Arenado is batting.192 in 20 games at the Fish Bowl. Beyond that, it was almost an impeccable outing for Gray, who needed a start of that caliber to get himself back on track.