London, July 26 (SocialNews.XYZ) A UK court on Monday declared fugitive Indian businessman Vijay Mallya, the chairman of now defunct Kingfisher Airlines, as "bankrupt".
The UK court order comes as a massive boost for the consortium of banks led by the State Bank of India (SBI) to initiate freezing of assets owned by Mallya's Kingfisher Airlines, both in India and abroad, to repay its debt.
Mallya is wanted in India for Rs 9,000 crore loan defraud.
"As at 15.42 (UK time), I adjudicate Dr Mallya bankrupt," Chief Insolvencies a......