A UK judge, who ordered flamboyant Indian businessman Vijay Mallya's extradition, may have found him flashy and bejeweled. But, a news report says he no longer can be what he used to be because most his assets have been attached on court orders.
The former liquor baron, nicknamed 'King of Good Times' after the tagline of his company's beer, does not wear any o his trademark jewelry or goes out on his Ferrari, Porsche or Maybach for the usual spin, a Times of India report said.
Mallya's counsel Amit Desai informed the special trial court judge in Mumbai the other day that all his assets have been either attached or is court custody. "He has handed over to the bailiff of the court in London even his watch, jewelry and his cars. He doesn't have a single asset in his possession," the counsel told the Mumbai court.
Media used to report having seen Mallya with two gold necklaces, each worth Rs10 lakh, diamond earrings, diamond bracelet or one of his nine luxury watches that included an Audemars Piguet worth Rs70 lakh.
Counsel did not spell out the list of personal items now in the custody of the UK court. But, a newspaper report said documents showed that nine automobiles, three yachts, seven jewelry pieces, nine watches, two gemstones, and an antique suit of armor with 12 swords and two shields had been handed over to the court.
The items were deposited during the proceedings initiated by a consortium of banks to enforce a debt recovery tribunal order against Mallya.
His personal belongings are reported to be among 70 assets handed over in compliance of a worldwide asset freeze ordered in November last year. Some of the attached assets are in India, reports said.
Among the cars no longer in his possession are a Rolls Royce Phantom worth nearly Rs1 crore, a Mini John Cooper, a Range Rover, a Bentley Turbo R 1991 and three Ferraris, one of which is valued at Rs4.3 crore. The automobile fleet alone is valued at Rs 16 crore. His yachts, Zippo, Kingstar and Seta Ella, are valued at almost Rs 30 crore. Two of the yachts were in Southampton, UK, and the third one in Cannes, France.
Mallya's attached jewelry includes diamond earrings worth Rs 3 crore, a blue sapphire ring, a diamond bracelet, a diamond ring valued at Rs 2.7 crore, and one green emerald. All of these are reported to be in the UK.
The former tycoon's fabled collection of watches is valued at Rs 2.6 crore, while there are two amethyst stones together worth Rs 9 crore. The rest of the assets include his bank accounts, fixed deposits, and shares, the report said.