Vijay Mallya asks banks for amount of pending dues

Wed, 05 February 2025

15:32

Fugitive businessman Vijay Mallya has filed a petition in the Karnataka High Court seeking loan recovery accounts from banks. Senior advocate Sajan Poovayya appeared on behalf of Mallya.

According to Mallya's counsel Rs 6,200 crore was to be repaid, but Rs 14,000 crore has been recovered. Mallya's counsel claimed that this was informed to the Lok Sabha by the Finance Minister.

Mallya's counsel has argued that the loan recovery officer stated that Rs10,200 crore has been recovered. He claimed that even though the full loan amount has been cleared, the process is still ongoing. Therefore, a request has been made to direct the banks to provide a statement of the recovered loan amount.

Based on Mallya's petition a notice was issued to banks and loan recovery officers by the High Court bench led by Justice R Devadas.

Mallya is currently living in London and he is the subject of extradition efforts from the Government of India for alleged loan defaults. -- ANI

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