Lalit Modi, who has been facing legal action from former New Zealand cricketer Chris Cairns for libel, has been declared bankrupt.
The former Indian Cricket League commissioner owes private security firm Page Group 65,000 pounds (NZ$126,000) in unpaid bills from 2010.
A London court declared Modi bankrupt, however Modi will attempt to have the order set aside, Britain's Daily Telegraph reported.
Modi lives in London and has permanent security due to threats from Indian and Pakistani mafia gangs, the paper reported.
Stuart Page, the company's chairman said Modi had not paid for services provided in 2010 and attempts to reach a settlement were to no avail, so court action was taken.
However Modi said he was completely unaware of outstanding payments until the order was served.
"I have not seen any previous demands but since it came to my attention, I've even offered to lodge the sum being claimed with the court pending clarity," he told the Telegraph. "But for some reason, that was refused, by the company concerned. It is a ridiculous waste of everyone's time and I can only assume it is being done in an attempt to gain some sort of publicity at my expense."
Modi said any suggestion he is unable to pay the bills is "ridiculous".
The order comes as Modi awaits the verdict in a libel action brought against him by cricketer Chris Cairns.
Cairns sued Modi after he alleged on Twitter in January 2010 that Cairns was involved in match fixing in the 2008 season of the rebel Indian Cricket League (ICL), while captain of Chandigarh.
The nine-day hearing in the High Court in London wrapped up last week, however it may be the end of the month before Justice David Bean issues a judgment.
- NZ Herald Online staff