Vijay Mallya loan default case hearing continues in Supreme Court today

Toni Houston
March 11, 2017

"Wish the Hon'ble Supreme Court would intervene and put an end to all this by directing Banks and us to negotiate and settle".

Businessman said that he has humbly obeyed every single Court Order without exception but it seems that government is bent upon holding him guilty without fair trial. He also asked Supreme Court to look into the matter and settle so that he is ready to close the issue.

During the day-long hearing, a bench of Justices Adarsk G Goel and Uday U Lalit heard the matter, making it clear that the court meant to pass certain orders since it would "serve no goal to hear it in piecemeal".

Sitting at his safehouse thousands of miles away, business tycoon who had allegedly deceived at least three major banks by not paying back huge amount of loans taken from them, Vijay Mallya on Friday tried to reach the banks taking the route of social media. "We are ready. Our substantial order before the Hon'ble Supreme Court was rejected by the banks without consideration", Mr Mallya tweeted. However, the industrialist, who reportedly fled to United Kingdom past year, transferred 40 million Dollars (approximately Rs 250 crore) to his wife and three children under the Diageo deal. This is the second time the high court has issued a bailable warrant against Mallya for reportedly violating an undertaking given by him at the Debt Recovery Tribunal.

In 2013, the high court had restrained Mallya from transferring his properties while his dispute with banks and creditors was pending.

In response, Mallya tweeted that the Attorney General's allegations reflected the government's attitude towards him.

Mallya, whose now-defunct Kingfisher Airlines owes more than Rs9,000 crore to various banks, had left India on 2 March.

"You answer us whether you have disclosed your assets truthfully?"

Mallya's renewed offer through a series of tweets came a day after the consortium of banks led by the State Bank of India (SBI) told the apex court that "he had taken it for a ride" and urged the top court to initiate contempt proceedings against him for "wilfully" breaching its orders.

Other reports by Ligue1talk

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