Mallya’s fleet of supercars seized by bailiffs

The High Court in London has instructed bailiffs to seize a fleet of supercars, including two Ferraris and a Porsche, belonging to Vijay Mallya, the former head of United Spirits.

Vijay Mallya’s fleet of supercars is being repossessed

Among the cars at his Hertfordshire home being repossessed are a 2012 Maybach 62, a 2006 Ferrari F430 with the personalised registration ‘BO55 VJM’, a 2014 Range Rover with the registration ‘F1 VJM’ (a reference to his former ownership of the Force India Formula 1 team), a Ferrari F512M, and a Porsche Cayenne with the number plate 0007 VJM, evoking James Bond.

The High Court judge has ordered the bailiffs to sell the cars for at least £400,000 to start the mitigation of Mallya’s liabilities.

A Ferrari F430 is among the cars being seized

The sum is a long way short of what Mallya is said to owe, but the loss of trophy assets will be a severe blow to his morale and prestige.

Most of his assets in the UK are thought to be out of the reach of the courts as they are held in the names of companies or members of the Mallya family.

The former head of India’s United Spirits fled to the UK in March 2016 just hours before an arrest warrant was issued charging him with money laundering and fraud associated with the collapse in 2012 of his disastrous Kingfisher Airlines venture.

Extradition proceedings have been lumbering through Westminster Magistrates Court for most of this year, with chief magistrate Emma Arbuthnot due to deliver her ruling on 10 December, over a year after she began hearing the case.

India law enforcement agencies have managed to impose a worldwide freeze on Mallya’s assets in order to repossess some of the £1.15 billion he is alleged to have defrauded from a consortium of Indian banks.

Mallya has consistently claimed that he wishes to settle with his creditors, that he has done nothing wrong, and that he has more than sufficient assets to meet his liabilities.

The global assets freeze means he can’t start to do so and he has been limited to funds of £16,000 a week to meet his living expenses.

His Force India F1 team has been sold out of administration from under his feet, his luxury yacht has been seized in Malta for non-payment of dues, his private jet has been sold to meet airport fees and the Indian authorities have taken control of numerous prestige properties belonging to Mallya on the sub-continent.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

We encourage debate in the comments section and always welcome feedback, but if you spot something you don't think is right, we ask that you leave an accurate email address so we can get back to you if we need to.

Subscribe to our newsletters

Supply Chain Assistant

Speciality Drinks
London NW10 7SF, UK

On-Trade Regional Sales Manager

Anthony Byrne Fine Wines
West Midlands & Northants

Supply Chain Co-ordinator

Speciality Drinks
London NW10 7SF, UK

Logistics Team Leader

Speciality Drinks
London, UK

Assistant Operations Manager

Speciality Drinks
London, UK

Technical Manager

North South Wines
West Drayton, UK

Key Account Manager

MMI Maldives

Business Manager - Impulse

Australian Vintage
Croydon, UK

Decanter Awards Marketing Manager

London, UK

Customer Development Manager - South London

Love Drinks Ltd
London, UK

Exclusive Masterclass: Chablis on Tour

London,United Kingdom
29th Apr 2019

Vinexpo Bordeaux

13th May 2019

London Wine Fair 2019

London,United Kingdom
20th May 2019
Click to view more

The Global Grenache Masters 2019

Deadline : 26th April 2019

The Tuscan Masters 2019

Deadline : 26th April 2019

Click to view more

The Global Riesling Masters 2018

View Results

Rioja Masters 2018

View Results

Click to view more