Karnataka High Court has backed the ED’s seizure of a Bengaluru flat linked to Vijay Mallya. Businessman Rajendrakumar Jain claimed he paid for the property, but the court ruled an unregistered sale agreement doesn’t transfer ownership. This decision impacts the recovery efforts for banks owed over Rs 17,000 crore by the Mallya group.Kingfisher Tower flat stays seized: HC upholds ED attachment of Vijay Mallya-linked 8,000sqft flat in Bengaluru
Karnataka High Court has backed the ED’s seizure of a Bengaluru flat linked to Vijay Mallya. Businessman Rajendrakumar Jain claimed he paid for the property, but the court ruled an unregistered sale agreement doesn’t transfer ownership. This decision impacts the recovery efforts for banks owed over Rs 17,000 crore by the Mallya group.
