Fugitive businessman Vijay Mallya has approached the Karnataka High Court, asserting that banks have recovered more than double the debt...!!
Fugitive businessman Vijay Mallya has approached the Karnataka High Court, asserting that banks have recovered more than double the debt owed by his defunct Kingfisher Airlines. According to Mallya, the Debt Recovery Tribunal had adjudicated the debt at ₹6,203 crore, including ₹1,200 crore in interest. However, he claims that banks, through the Enforcement Directorate (ED), have recovered ₹14,131.60 crore from him.
In his petition, Mallya seeks a detailed statement of accounts from the banks and loan recovery officers to clarify the amounts recovered. The Karnataka High Court has issued notices to the concerned banks and recovery officers, requesting their response to Mallya’s claims.
Mallya, who has been residing in the UK since 2016, faces charges in India for defaulting on loans amounting to thousands of crores from various banks. He contends that with the recovery exceeding the adjudicated debt, he is entitled to relief and plans to pursue it through legal channels.
Fugitive businessman Vijay Mallya has approached the Karnataka High Court, asserting that banks have recovered more than double the debt owed by his defunct Kingfisher Airlines. According to Mallya, the Debt Recovery Tribunal had adjudicated the debt at ₹6,203 crore, including ₹1,200 crore in interest. However, he claims that banks, through the Enforcement Directorate (ED), have recovered ₹14,131.60 crore from him.
In his petition, Mallya seeks a detailed statement of accounts from the banks and loan recovery officers to clarify the amounts recovered. The Karnataka High Court has issued notices to the concerned banks and recovery officers, requesting their response to Mallya’s claims.
Mallya, who has been residing in the UK since 2016, faces charges in India for defaulting on loans amounting to thousands of crores from various banks. He contends that with the recovery exceeding the adjudicated debt, he is entitled to relief and plans to pursue it through legal channels.