Wednesday, October 16, 2019

Posted at: May 25, 2019, 7:25 AM; last updated: May 25, 2019, 7:25 AM (IST)

Diageo wins $135 million claim against Mallya in UK

London, May 24

In another setback to Vijay Mallya, the UK High Court on Friday directed the embattled liquor tycoon to pay British beverage giant Diageo over $135 million in relation to a collateral arrangement. 

Diageo is seeking a total of $175 million from the 63-year-old businessman and was successful in one aspect of that claim as it was awarded a “summary judgment” by Justice Robin Knowles, who dismissed Mallya’s reliance on an alleged oral promise from Diageo dating back to February 2016.  He said an oral promise over-rides any claim of such a payment. 

Over and above the $135 million, Mallya is liable to pay interest incurred at a commercial rate as well as £2,00,000 towards legal costs. — PTI


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