The owner of one of the world’s largest private yachts has been ordered to settle a €651,000 outstanding debt with a local marine repairs and services company, after the latter took the matter to court.
The vessel in question is the 95-metre luxury vessel ‘Indian Empress,’ registered under the ownership of Indian businessman and former politician Vijay Mallya, co-owner of the Formula One team Force India.
‘Indian Empress’ was targeted by an arrest warrant issued in favour of Melita Power Diesel Limited, the marine company which resorted to summary civil proceedings claiming settlement of the sum owed to it.
The company had delivered provisions and services worth thousands of euros, of which €651,399 remained unpaid, prompting a civil suit against the yacht for recovery of the outstanding debt.
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The First Hall, Civil Court, presided over by Mr Justice Lawrence Mintoff, upheld the claims, ordering ‘Indian Empress’ to settle the €651,399.77 bill with accrued interests until effective payment.
The vessel – bought from a Qatari sheikh for a reported $113 million in 2006 – has been using a berth at Manoel Island marina for years, replacing Mr Mallya’s previous 55-metre boat Indian Princess.
This is not the only issue involved the Indian Empress, which has been blocked in Malta after the 40-member crew began legal action claiming they are owed almost a million dollars.
The mariners’ union Nautilus International said the yacht was abandoned by its owners. The crew, including Indians, Britons and East Europeans, have not been paid since September, the union said.
The entrepreneur used to own Kingfisher Airlines, a major business venture which kicked off in 2005 only to be wound up in 2012 after running into bankruptcy.
Mr Mallya fled to the UK on March 2, leaving over €1 billion in unpaid loans from 17 banks. The 60-year-old Mr Mallya left India just hours before the State Bank of India started proceedings to impound his passport to prevent him from leaving the country.
He is also wanted by the Enforcement Directorate in connection with money laundering charges, according to an Indian online news portal.