Vijay Mallya strikes Karnataka Excessive Court docket, seeks mortgage restoration accounts from banks – India TV

Vijay Mallya strikes Karnataka Excessive Court docket, seeks mortgage restoration accounts from banks – India TV

Picture Supply : PTI Vijay Mallya strikes Karnataka Excessive Court docket

In a major improvement, fugitive businessman Vijay Mallya on Wednesday filed a petition within the Karnataka Excessive Court docket searching for mortgage restoration accounts from banks. Senior advocate Sajan Poovayya appeared on behalf of Mallya.

In line with Mallya’s counsel Rs 6,200 crore was to be repaid, however Rs 14,000 crore has been recovered. Mallya’s counsel claimed that this was knowledgeable to the Lok Sabha by the Finance Minister.

Mallya’s counsel has argued that the mortgage restoration officer acknowledged that Rs10,200 crore has been recovered. He claimed that regardless that the complete mortgage quantity has been cleared, the method remains to be ongoing. Subsequently, a request has been made to direct the banks to supply a press release of the recovered mortgage quantity.

Primarily based on Mallya’s petition a discover was issued to banks and mortgage restoration officers by the Excessive Court docket bench led by Justice R Devadas.

Mallya is at present residing in London and he’s the topic of extradition efforts from the Authorities of India for alleged mortgage defaults.

Earlier on December 18, 2024, Vijay Mallya had claimed that banks have recovered Rs 14,131.60 crore from him “towards the judgement debt of Rs 6203 crore” however he continues to be “an financial offender”.

He stated in a put up on X that except the Enforcement Directorate and banks can legally justify how they’ve taken greater than two occasions the debt, he’s entitled to aid. “The Debt Restoration Tribunal adjudged the KFA (Kingfisher Airways) debt at Rs 6203 crores together with Rs 1200 crores of curiosity. The FM introduced in Parliament that by means of the ED, Banks have recovered Rs 14,131.60 crores from me towards the judgement debt of Rs 6203 crores and I’m nonetheless an financial offender. Until the ED and Banks can legally justify how they’ve taken greater than two occasions the debt, I’m entitled to aid which I’ll pursue,” Mallya stated.

Finance Minister Nirmala Sitharaman had listed a number of main instances the place the Enforcement Diectorate has every so often connected properties of people and corporations linked to financial offence instances.

(With inputs from ANI)

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