Vijay Mallya Vs Indian banks: Battle over Kingfisher airlines’ dues to play out in British court

The current drama began to unfold after a statement by the Indian finance minister, Nirmala Sitharaman, in the Lok Sabha on December 17 last

A simmering dispute between the former chairman of the defunct Kingfisher Airlines, Indian businessman Vijay Mallya, and Indian banks who had lent the company money has escalated exponentially and will likely manifest in courtrooms. The sharp disagreement is over Mallya claiming that more than the sum owed has been realised by the banks and accounts not provided; whereas the banks’ position is to the contrary.

Vijay Mallya (Getty Images)

Kingfisher Airlines, once enjoying a large chunk of market share in Indian civil aviation, closed