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Vijay Mallya says money he owes Indian banks is 'public money' so he cannot be made bankrupt

Indebted liquor tycoon Vijay Mallya stepped up his fight against bankruptcy in the UK courts on Friday, claiming that the banks’ amended bankruptcy petition against him did not stand up in law as the banks could not forfeit the security they held over his assets in India because it was against the public interest in India to do so as the money he had borrowed was “public money”.