Vijay Mallya moves Karnataka High Court, claims banks have recovered more than owed
Bengaluru: Fugitive businessman Vijay Mallya has approached the Karnataka High Court challenging the debt recovery proceedings against the now-defunct Kingfisher Airlines.
Mallya contended that while Kingfisher Airlines owed approximately ₹6,200 crore, the authorities had recovered the "principal debt amount multiple times over."
The petition, filed on 3 February, was briefly heard by Justice R Devdas on Wednesday. Senior Advocate Sajan Poovayya, representing Mallya, stated that no interim relief was being sought before the respondents were heard. Following this, the court issued notices to ten banks, a recovery official, and an asset reconstruction company named in the plea.
Mallya’s petition challenges the recovery process initiated by several nationalised and private sector banks, including the State Bank of India and Punjab National Bank. He has sought an interim stay on further recovery action and requested a statement of accounts detailing all amounts owed by him, United Breweries Holdings, and his other debtors.
In December last year, Mallya claimed on social media that banks had recovered more than twice the ₹6,203 crore adjudicated by the Debt Recovery Tribunal, including interest. He also referred to a statement by Union Finance Minister Nirmala Sitharaman in the Lok Sabha, where she reportedly said that ₹14,131.6 crore worth of Mallya’s properties had been restored to public sector banks.
Mallya, who fled to the UK in 2016, is wanted in India over the default of loans amounting to thousands of crores taken by Kingfisher Airlines.
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RCB beat MI by 18 runs after batters fire
Mumbai (PTI): Royal Challengers Bengaluru skipper Rajat Patidar, Phil Salt and Virat Kohli blasted half-centuries as the defending champions beat Mumbai Indians by 18 runs in an Indian Premier League match here on Sunday.
Salt (78 off 36 balls) and Kohli (50 off 38 balls) stitched together a 120-run stand for the opening wicket before Patidar scored a rapid 53 off just 20 balls as RCB posted 240 for 4.
In response, Mumbai Indians were restricted to 222 for 5, with RCB spinner Suyash Sharma (2/47) putting the skids on the home side with a double strike in the eighth over, from which they could not recover.
Sherfane Rutherford top-scored for MI with an unbeaten 71 off 31 balls.
While opener Rohit Sharma appeared to be struggling with a hamstring issue and had to retire hurt on 19, his partner Ryan Rickelton made 37, while Suryakumar Yadav (33) and Hardik Pandya (40) were the other contributors for MI.
Brief scores:
Royal Challengers Bengaluru 240 for 4 in 20 overs (Phil Salt 78, Virat Kohli 50, Rajat Patidar 53, Tim David 35 not out).
Mumbai Indians: 222 for 5 in 20 overs (Sherfane Rutherford 71 not out, Ryan Rickelton 37, Hardik Pandya 40; Suyash Sharma 2/47).
