PMLA court allows banks to liquidate Vijay Mallya's seized assets

Prevention of Money Laundering Act (PMLA) court in Mumbai has allowed banks that lent money to embattled liquor tycoon Vijay Mallya to utilize seized assets. The court also said all parties affected by the order can appeal at the Bombay High Court till January 18. Mallya had fled India in March 2016 and has been living in the United Kingdom since then.He is accused of fraud and money laundering charges amounting to ₹9,000 crores.