A superyacht which had been impounded in Malta after court action by suppliers and the crew for payment of overdue bills and wages, has been sold by court auction for €43.5 million.

The 95-metre luxury vessel Indian Empress was owned by 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 for outstanding payment of €651,399.

In April, the super yacht's owner had been ordered by a civil court to settle an outstanding bill of €651,399 in favour of local marine repairs and services company Melita Power Diesel Limited, after the latter had filed summary proceedings to claim the debt.

The yacht's 40-member crew also instituted legal action claiming they were owed almost a million dollars.

The vessel – bought from a Qatari sheikh for a reported $113 million in 2006 – had been using a berth at Manoel Island marina for years, replacing Mr Mallya’s previous 55-metre boat Indian Princess. 

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.