The London High Court declared fugitive Indian businessman Vijay Mallya bankrupt on July 26 in a major victory for Indian banks.
This will clear the way for a group of Indian banks led by the State Bank of India (SBI) to seek a worldwide freezing order to seize Vijay Mallya's Indian assets in order to recover debt owed by his now-defunct Kingfisher Airlines.
Mallya reportedly attempted to appeal the High Court decision but was denied permission to do so.
An application by a lender consortium led by the SBI to alter their bankruptcy case in favour of surrendering their security over Mallya's assets in India was upheld by a UK court earlier this year in May.
Nobel laureate and American theoretical physicist Steven Weinberg passed away in Austin Texas. He was 88.
Steven Weinberg shared the Nobel prize for Physics in 1979 with Sheldon Glashow of Harvard, U.S.A. and Abdus Salam of Imperial College, London, UK, for his discovery of the Unified Theory of Weak and Electromagnetic Interactions.
He was the Director of Theory Research Group and Regental Professor at the University of Texas. His wife, Louise Weinberg, is a Professor in Legal Studies at the University
A boat carrying African migrants capsized off Libya's coast, leaving at least 57 people presumed dead. It was the latest disaster in the Mediterranean Sea involving migrants seeking a better life in Europe.
The vessel left the western coastal town of Khums. There were at least 75 migrants on board, including women and children.
Eighteen of the migrants were rescued and returned to shore by fishermen and Libya's coast guard. The survivors are from Nigeria, Ghana and Gambia.