After a British court declared fugitive Indian billionaire Vijay Mallya bankrupt last week, Indian social media was abuzz with discussions about the 65-year-old’s spectacular downfall and what would happen next.

Once known as the “King of Good Times” due to his flamboyant lifestyle replete with fast cars and wild parties, Mallya’s initial success came with United Breweries Group, which owns the popular Kingfisher beer. He launched Kingfisher Airlines in 2005, but it closed in 2012 as it…

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