STOCK MARKET BSE NSE

SC to hear plea filed by banks’ against Vijay Mallya today

The banks, in their plea, told the apex court that there was an outstanding loan of almost Rs. 9,000 crores against the businessman.

Published: 25th October 2016 09:11 AM  |   Last Updated: 25th October 2016 09:11 AM   |  A+A-

Vijay Mallya AFP

Chairman and CEO of India's Kingfisher Airlines Vijay Mallya talks on his cellphone during a meeting with pilots in New Delhi on March 15, 2012. (File | AFP)

By ANI

NEW DELHI: The Supreme Court on Monday will hear the plea filed  by SBI-led consortium of banks against beleaguered businessman Vijay Mallya for  recovery of more than Rs 6,000 crore from him. 

The consortium of banks had approached the apex court seeking its intervention in  bringing back Mallya to India and also repayment of money which the beleaguered businessman had taken.

The top court had wanted to know from the Union Government about his whereabouts.  The Attorney General informed the apex court that Mallya was in England.

The banks, in their plea, told the apex court that there was an outstanding loan of almost Rs. 9,000 crores against the businessman.

The banks have argued that the business tycoon has not been candid with the court  regarding his assets, citing the failure to disclose the severance package he received from  Diageo Plc as part of his exit from United Spirits Ltd.

On April 26, the Supreme Court had directed Mallya to disclose his assets to the consortium. The banks also said the disclosures made by Mallya on his Indian and overseas properties were "vague".

The banks also refuted Mallya's allegation that all 17 banks did not reject the three  proposals made by him for repayment of over Rs. 9,000 odd crores in instalments. 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp