Vijay Mallya Is Selling His Cars To Pay Rs 10,000 Loan

Vijay Mallya, a racing car and former airline tycoon, is currently in trouble as a court in London required the man to sell his luxury cars as a payment to his Rs 10,000 owed to a group of Indian banks. Among the cars to be sold, there is one car with his initials on number plates “VJM”, and a Porsche whose number plate in the style of James Bond featuring “0007 VJM”.

At the London HC, an order was issued by Justice Cockerill on October 11 which stated that the officers at high court enforcement are selling Mallya’s 2006 Ferrari F430 registered “BO55 VJM”, 2012 Maybach 62 with registration “VJM1”, 2014 Range Rover registration number “F1 VJM”, 2016 Mini Countryman, Ferrari F512M and a Porsche Cayenne with “0007 VJM”.

The cars are said to be sold at £404,000 or higher.

Mallya lost a case in which he protested against the Debt Recovery Tribunal (DRT) of Bengaluru’s registration of judgement in UK courts, leading to the mentioned order. The DRT decided that Mallya owes the consortium a Rs 6,203 crore, excluding interest. Enforcement officers were permitted to enter Mallya’s homes in UK to look for and take over his possessions.