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Ex-Billionaire Fights UBS Bid to Foreclose on London Home

  • Case is the latest legal battle for Indian tycoon Vijay Mallya
  • Mallya also faces extradition to India in separate London suit
Vijay Mallya
Vijay MallyaPhotographer: Luke MacGregor/Bloomberg
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UBS Group AG is trying to foreclose on a 20.4 million-pound ($26.6 million) mortgage loan on former billionaire Vijay Mallya’s London house, which overlooks the capital’s Regent’s Park.

The bank is seeking possession of the property, which Mallya -- an Indian tycoon who’s battling extradition in a separate case -- used as a family home. It says Rose Capital Ventures, the company that took out the mortgage, hasn’t repaid it.