Vijay Mallya files petition in Karnataka high court over loan dispute | REPORT
Mallya's counsel has argued that the loan recovery officer stated that Rs 10,200 crore has been recovered. He claimed that even though the full loan amount has been cleared, the process is still ongoing.
Bengaluru: 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.
About The Petition
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 Rs 10,200 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.
Enforcement Directorate and banks
Mallya is currently living in London and he is the subject of extradition efforts from the Government of India for alleged loan defaults.Earlier on December 18, 2024, Vijay Mallya had claimed that banks have recovered Rs 14,131.60 crore from him "against the judgement debt of Rs 6203 crore" but he continues to be "an economic offender".He said in a post on X that unless the Enforcement Directorate and banks can legally justify how they have taken more than two times the debt, he is entitled to relief.
(Except for the headline, nothing has been changed by AINN in the PTI copy.)
