Mallya may have to cough up Rs 2 crore in legal bills

Vijay Mallya’s defeat in the Westminster Magistrate court has not only brought him a step closer to being extradited to India, but has also left him facing the prospect of hefty legal bills — in the region of £216,000 to £234,000.

Earlier, this might have been loose change for Mallya, but in the current situation, where he is fighting lengthy and complex court battles, escalating legal fees are a cause of concern.

On Monday afternoon, in the last few minutes of the proceedings, Mark Summers, representing the Crown Prosecution Service, indicated the legal cost “in the event extradition is ordered” [by the home secretary] to be between £216,000 to £234,000 (approximately Rs 2 crore). This cost will be on top of his own legal bills, which will be very substantial as his defence team also put up witnesses during the trial. Considering that he is certain to appeal the judgment of the Westminster Magistrate Court, in the high court, his legal bill is going to see an exponential increase.

Mallya is fighting three cases in the UK courts. Apart from the extradition case, a group of 13 Indian banks have dragged him to the high court, and the latest is the case filed by Swiss bank UBS, seeking to take back possession of his London home. The Indian banks had also filed an application in a court outside London seeking to declare Mallya bankrupt.

As Mirror reported earlier, Mallya has to pay £88,000 in legal costs before January 4, 2019 to UBS, per an order of the high court in London. His lawyer had asked for that payment to be between £30,000 to £40,000. The lawyer representing UBS had complained to the court about the irregularity in getting payments from Mallya, pointing to a liquidity crunch.

When asked about the legal cases he is fighting, Mallya said: “That’s what courts are for. That’s how lawyers thrive. Do I regret being in a situation where I am reading legal papers and paying legal fees? Yes I do. I could have done something more productive with my time. But it is what it is, and so long as I have proper rights I will enforce them.”