Embattled businessman Vijay Mallya on Tuesday lost a legal battle to hold on to his plush London home after a British court refused to grant him a stay of enforcement in a long-running dispute with Swiss bank UBS.

The 18/19 Cornwall Terrace luxury apartment overlooking Regent’s Park in London, described in court as an “extraordinarily valuable property worth many tens of millions of pounds”, is currently being occupied by Mallya’s 95-year-old mother Lalitha. The judge also declined permission to appeal against his order or to grant a temporary stay of enforcement.