8 hours Ago By TOI News Desk
NEW DELHI: Fugitive businessman Vijay Mallya on Wednesday moved Karnataka high court challenging the debt recovery proceedings against him. Mallya in his petition, sought a statement by the banks of accounts for the amounts owed by him United Breweries Holdings Limited (in liquidation) and other certificate debtors. Justice R Devdas issued the notice to the to banks after Mallya's advocate Sajan Poovayya submitted that winding up order against Kingfisher Airlines and holding company United Breweries Holdings Limited, (UBHL) attained finality and up to the Supreme Court the winding up has been confirmed.
It was further submitted that the amount due had already been recovered, and even still additional recovery proceedings had been carried out against Mallya. Poovayya said, "Parallelly there was a debt recovery proceeding, in that a sum of Rs 6200 crore was ordered to be paid by the primary debtor Kingfisher and the UBHL which was the guarantor. That order also attained finality".
"However, between 2017 the Rs 6200 crore was recovered multiple times over and there is an admitted statement which i have filed, as on date, the recovery officer says Rs 10,200 crore has been recovered. While the official liquidator says banks have made their money restored. Lastly a statement is made in the Parliament by the Finance Minister that 14,000 crore is recovered," he added.
Mallya's petition also demanded for a statement to be issued by the banks of amounts realised by or in their favour and details of the original owners of the assets utilized for realising the amounts following the amended recovery certificate. Further, a statement of assets owned by the petitioner, UBHL or third parties, and which are available with the banks but not yet utilized for the purpose of satisfying the alleged debt owed under the amended recovery certificate. Mallya, accused of fraud and money laundering , owes Indian banks approximately Rs 9,000 crore.
He fled India in 2016 and has been residing in the UK since then. However, according to the finance ministry, ED has so far recovered Rs 22,280 crore from various scams. This includes over Rs 14,000 crore returned to banks from the sale of Mallya's assets.
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