Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
French Riviera turns out to be Vijay Mallya's favourite destination
Reader Pathai Venkateswaran sent us these pictures.
Indian magnate Vijay Mallya refuses to let the global credit crunch cramp his style, even if other high rollers may be keeping a lower profile at this weekend's Monaco Grand Prix.
A consortium of Indian public sector banks led by SBI sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a high court hearing in London on Wednesday as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Mallya's legal team, led by barrister Philip Marshall, argued for the bankruptcy petition to be dismissed because their client was being unfairly pursued by the banks in India and the UK on opposing grounds.
He's also enjoying a new level of corporate respect.
As his personal wealth started booming, Mallya went on a buying spree.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
RPG Enterprises Chairman Harsh Goenka thinks aloud about what Vijay Mallya could or should do to get out of the current mess.
For his 60th birthday in December, which he called his third 20th birthday, Mallya flew in Enrique Iglesias to perform at his villa overlooking the beach in Goa.
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