The Karnataka High Court has issued notice to Vijay Mallya and others on a plea by the State Bank of India (SBI) seeking his arrest. Justice A S Bopanna issued notice to Mallya, his Kingfisher and United Breweries Holdings Ltd as well as British liquor major Diageo plc and its Indian arm, United Spirits Ltd. for their response and posted the case for hearing next week. The judge also made an observation that the Debt Recovery Tribunal, which is hearing the case, was free to pronounce order on the bank’s applications as it deemed fit.
SBI as a lead bank of the consortium of 17 state-run and private banks, which have a combined outstanding dues up to INR 7,800 crore from Kingfisher, headed by Mallya, moved the high court after the debt recovery tribunal here reserved order on its four interlocutory applications filed on Wednesday. We have approached the high court as the tribunal had not yet acted upon our applications, which included disclosure of Mallya’s assets in India and abroad and our claim on the INR 516 crore severance package Diageo and USL signed with him on February 25 here, the counsel said. The writ in the high court prayed for disclosure of properties of Mallya, his son Siddharth, and his relatives and restraining Diageo and USL from paying the deal amount to Mallya.
Post A Comment:
0 comments: