As Vijay Mallya left the Westminster Magistrates’ Court on Monday, he was repeatedly asked if he planned to lodge an appeal.

It may well be the case that his lawyers will advise him that the judgment against him is so well-argued that the chances of a successful appeal are limited.

However, Mallya said: “Let the lawyers decide what we are going to do. The judge told me it’s a long process. She told me of my right of appeal. She also said very generously that I have a good legal team who will give me good advice going forward.”

On the verdict, Mallya said: “It’s unfortunate that the judge found a prima facie case that I had made misapplications to IDIBI Bank and persuaded them to loan money. Be that as it may, the judge is entitled to make whatever judgement she thinks fit.”

He added: “I have my rights. My legal team will be reviewing the judgment in detail and deciding the next steps forward.”

Asked if he was shocked, he responded: “Nothing to be shocked about… that’s what courts are for.”