Liquor baron Vijay Mallya approaches Karnataka HC, claims recoveries more than debts in Kingfisher Airlines case
The respondents include 10 banks, such as the SBI, Punjab National Bank, and Bank of Baroda, among others.
2 min read
The court issued notices against the other parties and set the next date of hearing on February 19. (Express File Photo)The Karnataka High Court Wednesday heard liquor baron Vijay Mallya’s petition that claimed banks have recovered much more than was owed by the now-defunct Kingfisher Airlines.
Through his counsel senior advocate Sajjan Poovayya, Mallya asserted before the single-judge bench of Justice R Devdas that the sum of around Rs 6,200 crore owed to the banks had already been recovered and that a statement regarding the recovery of Rs 14,000 crore had been made by none other than Union Finance Minister Nirmala Sitharaman.
The petition filed by Mallya against the respondents called for a statement of amounts realised by them along with details of the original asset owners as per the Debt Recovery Tribunal’s recovery certificate from 2017. It also called for an interim stay on recovery efforts and asset sales.
The respondents include a recovery officer of the Debts Recovery Tribunal, a financial asset reconstruction company, and 10 banks, such as the SBI, Punjab National Bank, and Bank of Baroda, among others.
The court issued notices against the other parties and set the next date of hearing on February 19.
Sitharaman informed the Lok Sabha in December last year that Rs 1,4131.6 crore was restored to public sector banks from properties belonging to Mallya. She had said, “…We have not left anyone, even if they fled the country, we’ve gone after them. The ED (Enforcement Directorate) has collected this money and returned to the banks… We will be making sure that the money which has got to go back to banks will go back.”
Soon after, Mallya had posted on social media, “Whatever I have stated about my liabilities as guarantor of KFA loans is legally verifiable. Yet more than Rs 8000 crores have been recovered from me over and above the judgement debt. Will anyone, including those who freely abuse me, stand up and question this blatant injustice?”
You May Like
Photos
