Indian Tycoon Mallya Faces Bankruptcy Over $1.5 Billion in Debt
Vijay Mallya, founder and chairman of Kingfisher Airlines Ltd., arrives for the ruling in his extradition hearing at Westminster Magistrates’ Court in London, U.K. (Photographer: Jason Alden/Bloomberg)

Indian Tycoon Mallya Faces Bankruptcy Over $1.5 Billion in Debt

(Bloomberg) -- Twelve state-owned Indian banks are petitioning for ex-billionaire Vijay Mallya to be declared bankrupt over 1.15 billion pounds ($1.52 billion) in unpaid debts.
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