Mallya loses Watches to Yachts
The business tycoon has handed over almost all of his possessions to the bailiff of court in London
Mumbai: The “flashy, bejewelled playboy”, as described by the magistrate of the Westminster Court in London, business tycoon Vijay Mallya is no more the owner of his watches to yachts. The counsel of Mallya, senior advocate Amit Desai has intimated MS Azmi, special trial court judge in Mumbai that every asset belonging to the erstwhile liquor baron has either been attached or is in custody of courts. He said, “He has handed over to the bailiff of the court in London even his watch, jewellery and his cars. He doesn’t have a single asset in his possession”. Lately, the Westminster Court had ordered Mallya’s extradition to India.
In better times, Mallya had been spotted with two gold necklaces, each worth Rs 10 lakh, diamond earrings, a diamond bracelet or any one of nine luxury watches, including a Audemars Piguet worth RS 70 lakh.
Mallya’s personal belongings are among almost 70 assets listed as handed over in “compliance with the worldwide freezing order of November 2017.” Some of the attached assets are in India. Among cars no longer in his possession are a Rolls Royce Phantom worth Rs 95 lakh, a Mini John Cooper, a Range Rover, a Bentley Turbo R 1991 and three Ferraris, one of which is valued at Rs 4.3 crore. The automobile fleet is valued at Rs 16 crore. His yachts, Zippo, Kingstar and Seta Ella, are together valued at almost Rs 30 crore. Two were in Southampton, UK and the other in Canes, France.
His jewellery includes diamond earrings worth over Rs 3 crore, a blue sapphire ring, a diamond bracelet, a diamond ring valued at Rs. 2.7 crore, and one green emerald. All these properties are now in the UK. His collection of watches was valued at Rs 2.6 crore, while two amethyst stones together are worth Rs 9 crore. The rest of his assets include his bank accounts, fixed deposits and shares.
Also Read: We Accept People’s Mandate With Humility: PM Narendra Modi
Ms Kalinga