SC to hear banks’ plea in Vijay Mallya’s case

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The Supreme Court will be hearing Bank’s plea filed by a consortium of banks against the trouble tycoon Vijay Mallya.

In April, the apex court had also directed Mallya to disclose his assets held by him and his family.

The consortium of banks had further rejected his offer to repay Rs. 4,000 crores as the settlement of all debts.

malya

Vijay Mallya

The one-time owner of the Kingfisher Airlines owes to 17 banks, including the State Bank of India, over Rs. 9,000 crore with the interest.

One time Member of Parliament, Vijay Mallya is undergoing the investigation by various agencies, including the Enforcement Directorate (ED) and also the Serious Fraud Investigation Office (SFIO), which probes white collar crimes.

Moreover, last month a special Prevention of Money Laundering Act (PMLA) court in Mumbai had also declared Mallya a proclaimed offender in a loan default case.

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