Meanwhile, a court in the United Kingdom on Wednesday ordered Vijay Mallya to pay 88,000 Pounds (Rs 80 lakh) to UBS Investment Bank which had granted a 20.4 million-pound ($26.6 million) mortgage loan to former billionaire's London house.
Mumbai Special PMLA court on Thursday rejected Vijay Mallya's plea seeking stay on hearing of Enforcement Directorate's application to declare him a fugitive. The hearing is still going on.
Meanwhile, a court in the United Kingdom on Wednesday ordered Vijay Mallya to pay 88,000 Pounds (Rs 80 lakh) to UBS Investment Bank which had granted a 20.4 million-pound ($26.6 million) mortgage loan to former billionaire's London house.
The court has ordered him to pay the amount by January 4, 2019, Times Now reported.
Earlier, the Swiss bank had applied for the possession of Vijay Mallya's London mansion in UK High Court citing that the mortgage had not been repaid.
The property, which faces London's Regent’s Park, was being used by Mallya as his family home.
The 62-year-old former Kingfisher Airlines boss, who has been on bail on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores. Mallya has been living in Britain since March 2016. The extradition case has entered final stages with Westminster Magistrates' Court in London likely to pronounce a verdict in December this year.
The extradition trial, which opened at the London court on December 4 last year, is aimed at laying out a prima facie case of fraud against the embattled liquor tycoon, who has been based in the UK since he left India in March 2016. It also seeks to prove there are no "bars to extradition" and that the tycoon is assured a fair trial in India over his now-defunct Kingfisher Airlines' alleged default of over Rs 9,000 crores in loans from a consortium of Indian banks.
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 "Special court rejects Vijay Mallya's plea seeking stay on declaring him fugitive")
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