‘Where is justice?’: Vijay Mallya tweets after debt tribunal attaches assets

Mallya took to Twitter early on Friday to criticise the attachment of his properties in the Rs 9,000 crore fraud and money laundering case filed against him by the CBI.

Controversial businessman Vijay Mallya took to social media again on Friday to question the narrative that he “ran away” with Rs 9,000 crore from banks, asking if it is justified when his assets worth Rs 13,000 crore had been reportedly seized.

Vijay Mallya criticised the government’s move to attach his assets to recover the Rs 9,000 crore that his airlines owed the banks. (REUTERS)

Facing extradition to India, Mallya is awaiting a final decision from home secretary Sajid Javid after the Westminster magistrates court recommended it on December 10. Javid has 60 days to decide from the date of judgement, and Mallya will have 14 days from the date of his decision to apply for leave to appeal.

Mallya has been presenting his version of the charges on Twitter and before television cameras outside the court to counter the narrative that he “ran away” with banks’ money. In June 2018, he released on Twitter letters to Prime Minister Narendra Modi and finance minister Arun Jaitley dated 2016, seeking fair play and justice.

In four tweets on Friday, Mallya said: “The DRT (debt recovery tribunal) Recovery Officer recently attaches my Group assets worth over 13,000 crores in India on behalf of the Consortium of Banks”.

“Yet the narrative is that I ran away with the claimed amount of 9000 crores causing loss to Public Sector Banks. Where is Justice and fair play? Every morning I wake up to yet another attachment by the DRT recovery officer”.

“Value already crosses 13,000 crores. Banks claim dues including all interest of 9,000 crores which is subject to review. How far will this go and well beyond? Justified??”

Mallya also referred to bankruptcy and debt recovery proceedings brought by the State Bank of India and 12 other lenders in the UK. The lenders had won in the high court in May 2018 when it dismissed Mallya’s applications to set aside a ruling of India’s debt recovery tribunal and an associated worldwide freezing order.

He said: “And despite all the attachments in India, Banks have given an open licence to their Lawyers in England to pursue multiple frivolous litigations against me. Who is accountable for spending Public money on Legal fees in such a brazen manner?”

“And finally, the Banks lawyers in England have objected in writing to my paying my legitimate tax dues to HMRC (revenue and customs) which I requested. Irony is Indian State Banks want my money in England to settle an Indian debt already secured and deny payment to the UK tax exchequer. Disgraceful.”

Besides recovery proceedings, Mallya is now facing legal action by lawyers acting on the banks’ behalf to declare him bankrupt. Paul Gair, partner of law firm TLT said: “We can confirm that we presented a bankruptcy petition against Dr Mallya on behalf of the banks on 11 September 2018”.

“This was issued in Dr Mallya’s local court, Northampton county court, and has now been transferred to the insolvency list in the High Court of Justice in London for the hearing. The hearing is expected to take place in the Spring.”

Mallya, 63, who in his flamboyant heydays was known as the ‘king of good times,’ flew out of India to the UK in March 2016 around the same time, the government says, agencies closed in on him for bank fraud. The businessman is also sought by the ED, which investigates foreign exchange rule violations and money laundering.

On January 5, Vijay Mallya became the first Indian businessman to be declared a fugitive economic offender by a special court in Mumbai. The tag came weeks after the Westminster Magistrates Court in London ordered his extradition to India on an application by the Indian Government.

A fugitive economic offender is a person against whom an arrest warrant has been issued for committing an offence and who has left India to avoid criminal prosecution. The ED has also submitted applications to have jewellers Nirav Modi and Mehul Choksi declared fugitives under the same law after they left India, where they are accused in a Rs.14,000 scam at state-run Punjab National Bank . These applications will be heard by the same special court.