Karnataka HC issues notice to banks on Vijay Mallya's plea seeking loan recovery details
Karnataka High Court on Wednesday issued a notice to banks in response to a petition filed by fugitive liquor baron Vijay Mallya. The petition seeks a statement of accounts detailing the amounts recovered from him, United Breweries Holdings Limited (UBHL, now in liquidation), and other certificate debtors.
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Justice R Devdas directed the banks to respond by February 13.
Senior advocate Sajan Poovayya, representing Mallya, argued that the winding-up order against Kingfisher Airlines and its holding company, UBHL, had been upheld at all judicial levels, including the Supreme Court.
He contended that the debts had already been recovered, yet additional recovery proceedings continued against Mallya.
Poovaiah informed the court that a debt recovery tribunal (DRT) had ordered Kingfisher Airlines, as the primary debtor, and UBHL, as the guarantor, to pay Rs 6,200 crore.
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