Did delay by SBI allow Vijay Mallya to leave India in 2016?
New Delhi : Two years before businessman Vijay Mallya left India to never return, the State Bank of India had declared that the liquor and airline tycoon owed it more than Rs 2,000 crore.
The declaration was part of a submission to the Debt Recovery Tribunal, which was then overseeing the matter of loan defaults made by Vijay Mallya and his companies. The submission was made by an SBI-led consortium of 14 banks and reflected dues as of January 31, 2014.
The numbers show that SBI was the largest lender to Mallya as of January 31, 2014. Mallya owed SBI Rs 2,043 crore. The total amount of money owed to the banks was Rs 6,963 crore.
Two years later, on February 28, 2016, top Supreme Court lawyer Dushyant Dave met with senior SBI officials. The meeting, Dave told India Today TV, took place at the behest of the bank's officials who asked for an "urgent meeting" to discuss the loans given to Vijay Mallya and his companies.
The meeting took place at Dave's home in New Delhi on February 28 -- a Sunday -- and lasted an hour, the lawyer said. During the meeting, Dave said, the SBI officials expressed fear that Mallya may try to flee India.
And so, Dave told India Today TV, the lawyer advised them to move Supreme Court and seek an order restraining the businessman from leaving India. The then SBI chief Arundhati Bhattacharya agreed with the recommendation, Dave said.
The lawyer, however, did not say whether Bhattacharya was present at the February 28 meeting.
Dave further said that he told the SBI officials to take urgent action in the case and move the Supreme Court the very next day, i.e. February 29, a Monday.
TIMELINE
► January 31, 2014: SBI declares Vijay Mallya owes it more than Rs 2,000 crore.
► February 28, 2016: Top SBI officials meet lawyer Dushyant Dave to discuss Mallya's loans.
► February 28, 2016: Dave advises SBI to immediately seek Supreme Court order barring Mallya from leaving India.
► February 29, 2016: Dave reaches Supreme Court. SBI officials fail to show up.
►March 2, 2016: Vijay Mallya leaves India to never return.
The next day, Dave said, he reached the Supreme Court but none of the SBI officials were there. And so, a plea seeking that Mallya be barred from leaving the country was never filed.
Two days later on March 2, Vijay Mallya left India. He has not returned since and is currently in London where he is fighting Indian attempts to extradite him.
"I have no doubt something happened after I gave my advice," Dave told India Today TV.
When asked to comment on Dave's statements, Arundhati Bhattacharya, who retired as SBI chief in October 2017, said, "SBI spokesperson will respond [on Dave's statements]. I can only reiterate that there was no laxity of any kind [emphasis original]. Please get a statement from current bank management."
India Today TV also sought an statement from SBI, which said, "State Bank of India (SBI) denies that there has been any laxity on its part or its officials in dealing with loan default cases including [Vijay Mallya's now-defunct] Kingfisher Airlines. Bank has been taking proactive and strong measures to recover the defaulted amounts."
courtesy : indiatoday.in
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Drug peddler's property worth Rs 1 crore attached in Srinagar
Srinagar (PTI): Property worth Rs 1 crore belonging to a notorious drug peddler was on Saturday attached in Jammu and Kashmir's Srinagar, police said.
A double-storey house on eight marlas of land situated at Wantpora Eidgah, belonging to Basit Bilal Dar, a notorious drug peddler, valued at approximately Rs 1 crore, a police spokesperson said.
He said Dar is involved in two cases registered under various sections of the NDPS Act.
During investigation, it was established that the accused had acquired the said property through illicit proceeds generated from drug trafficking activities, the spokesperson said.
Consequently, the property was attached under the provisions of the NDPS Act. The attachment proceedings were conducted in the presence of the two independent witnesses, strictly in accordance with the prescribed legal procedures, he said.
As per the attachment order, the owner has been restrained from selling, leasing, transferring, altering, or creating any third-party interest in the property till further orders, the spokesperson added.
