Supreme Court notice to Mallya, AG says he may have left India
The Supreme Court on Wednesday issued a notice to Vijay Mallya on a plea filed by public sector banks seeking a direction that liquor baron Vijay Mallya be restrained from leaving India.business Updated: Mar 09, 2016 15:57 IST
The Supreme Court on Wednesday issued a notice to Vijay Mallya on a plea filed by public sector banks seeking a direction that liquor baron Vijay Mallya be restrained from leaving India.
The apex court also questioned why loans were given to Mallya when he was defaulter and was facing proceedings in court of law.
AG: Mallya has defaulted more than Rs 9000 crore of loan, though he has properties across the globe whose value is far more than their due— ANI (@ANI_news) March 9, 2016
Citing CBI inputs, the Attorney General, however, told the court that Mallya left India on 2 March. He also said that Mallya’s assets abroad are far in excess to loans taken by him.
The apex court has sought a response from Mallya within two weeks. The next hearing has been scheduled for 30 March, 2016.
Earlier in the day, speculation was rife that embattled industrialist and member of Parliament Vijay Mallya may have already left India, and may be in Geneva, Switzerland.
The lenders had moved the apex court on Tuesday pleading that Mallya be restrained from travelling abroad, and the court had admitted the plea. The consortium, led by the State Bank of India (SBI) has also sought Mallya’s arrest and confiscation of his passport.
These banks had advanced loans of over Rs 9,000 crore to his firm.
The consortium of banks, in their appeal, had assailed the March 4 order of the Karnataka High Court refusing an ex-parte ad interim order against Mallya, England-based Diageo Plc and United Spirits Limited.
The banks said that the High Court should have passed an interim order, securing their financial interests.
Last year, the SBI declared the tycoon a “wilful defaulter” for not repaying loans made to Kingfisher Airlines, which was grounded in 2012
First Published: Mar 09, 2016 14:17 IST