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Wednesday, March 9, 2016

13 banks move SC to stop Vijay Mallya, but he's already left India







A consortium of 13 banks led by State Bank of India approached the Supreme Court on Tuesday to prevent controversial tycoon Vijay Mallya from leaving the country,but Mallya is believed to have left for a foreign destination a few days ago. The banks urged the court to stop him from going abroad as they claimed he owed them over Rs 9,000 crore.



Mallya's spokesperson said she had no information about his whereabouts and that he was communicating only through email. 


A consortium of 13 banks on Tuesday approached the SC, a day after a Debt Recovery Tribunal (DRT) restrained Mallya from disbursing in any manner Rs 515 crore paid to him by liquor major Diageo for exiting United Spirits. But the tribunal refused an interim order to freeze Mallya's passport. 



Source: economictimes