2797 - Vijay Mallya to lose London home 'worth millions of pounds' unpaid loans to UBS

A UK court has allowed Swiss bank UBS to take possession of fugitive businessman Vijay Mallya's London home, which is said to be worth "tens of millions of pounds", over unpaid dues. Mallya had obtained mortgage from UBS on the property. The court said it can't grant more time to Mallya to repay the £20.4-million (₹206 crore) loan to UBS.