support@headlinenews360.com
The fugitive businessman Vijay Mallya has filed a petition in the Karnataka High Court on Wednesday, claiming that he has claimed that the amount recovered by the banks is more than the debt taken by him. Mallya says that Kingfisher Airlines had a debt of about Rs 6,200 crore, but banks have recovered more than this. The matter has been raised when the action is being taken by the Indian banks and the Enforcement Directorate (ED) regarding the properties of Vijay Mallya.
What was said by Mallya
Mallya, through his lawyer, said in the court that the recovery that banks have made compared to the loan amount is much and it is against the principles of justice. He says that it is not appropriate to hold him completely responsible for the financial crisis for Kingfisher Airlines.
Status of banks
A consortium of banks under the leadership of State Bank of India (SBI) against Vijay Mallya has already been successful in declaring Vijay Mallya as bankrupt in the London High Court. With this decision, banks have got the right to seize Mallya’s properties. Banks have so far recovered 7,181.50 crore from Mallya’s properties, including the sale of Mallya’s shares.
legal action
There are many legal cases against Mallya, including three major cases in India. One of these cases is of the compromise setting offer made by him, which is pending in the Supreme Court. Apart from this, Mallya is also facing action under the Economic Offenders Act.
What did Finance Minister say in Lok Sabha
Finance Minister Nirmala Sitharaman recently shared important information about the case of fugitive businessman Vijay Mallya in the Lok Sabha. He informed that through the Enforcement Directorate (ED), banks have recovered Rs 14,131.6 crore from the sale of Vijay Mallya’s properties. The amount has been recovered in the loan case related to Kingfisher Airlines (KFA), which was evaluated to 6,203 crore, including interest.
(tagsToTransless)Vijay Malya
Source link
