In more trouble for the Vijay Mallya the Indian tycoon lost an appeal against a bankruptcy order made by Londons High Court over a more than 1 billion-pound ($1.28 billion) debt to lenders including the State Bank of India (SBI.NS). Mallya who lives in Britain has been embroiled in a long legal battle with lenders – as well as the Indian authorities – following the 2012 collapse of his defunct Kingfisher Airlines. Mallya who was also co-owner the Formula One motor racing team Force India is separately fighting extradition to India to face fraud charges over Kingfisher Airlines collapse. His most recent appeal against his extradition was rejected in 2020 Case against the tycoon In 2017 a group of banks obtained a judgment in India worth over 1 billion pounds against Mallya who had guaranteed Kingfisher Airlines debt. That ruling was registered in Britain later that year and led to a bankruptcy order being made against Mallya in 2021. Mallya appealed against the bankruptcy order at a hearing in February when his lawyers argued the banks had already recovered assets which had effectively settled the debt. Mallyas lawyers said in a statement that he would continue to seek to overturn the bankruptcy order. ₹14131.6 crore recovered Mallya has claimed that Indian banks have got access to his properties worth ₹14131.6 crore more than twice the amount that he owed to public sector banks. Mallya cited purported reference to the details of restoration done by the Enforcement Directorate against wilful defaulters in the Finance Ministrys annual report 2024-25 to say that banks have already recovered ₹14131.8 crore against ₹6203 crore awarded by the Debt Recovery Tribunal. But his appeal was rejected on Tuesday with Judge Anthony Mann saying in a written ruling that the bottom line ... is that the bankruptcy order stands.