UB Groups Vijay Mallya left India on 2 March, court told

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March 9, 2016

New Delhi: The Supreme Court on Wednesday issued notice to Vijay Mallya over a banks consortium plea seeking to stop him from leaving the country.

Mallya's Kingfisher Airlines, which was grounded in 2012, owes dues of over `9,091 crore to the consortium of banks. Photo: Hemant Mishra/Mint

March 9, 2016

New Delhi: The Supreme Court on Wednesday issued notice to Vijay Mallya over a banks consortium plea seeking to stop him from leaving the country.

Mallya's Kingfisher Airlines, which was grounded in 2012, owes dues of over `9,091 crore to the consortium of banks. Photo: Hemant Mishra/Mint

Attorney general Mukul Rohatgi, representing the consortium of 17 banks, informed the court that Mallya left the country on 2 March, according to the Central Bureau of Investigation. He is likely in London, where he has a lot of property, Rohatgi added.

 “The court should ask him to appear here and bring his passport. We also want a disclosure of his assets,” Rohatgi said.

A bench comprising justices Kurian Joseph and Rohinton F. Nariman gave Mallya two weeks to respond.

“We’ll issue notice and then see,” the court said. The court will hear the case next on 30 March. Mallya will be issued notices through means, including his lawyer, his official email with the Rajya Sabha, the Indian high commission in London.

The banks consortium had moved apex court on Wednesday seeking to impound Mallya’s passport, an arrest warrant and a suitable security to ensure his presence at the debt recovery tribunal (DRT) proceedings.

The apex court also expressed surprise at the long pendency before DRT.

Rohatgi said that DRT proceedings were pending since 2013. Combining hearings of the DRT in Goa and Bengaluru, there had been at least 500 hearings.

SBI declared Mallya a wilful defaulter in November. Mallya’s Kingfisher Airlines, which was grounded in 2012, owes dues of over Rs 9,091 crore to the consortium of banks


Courtesy: Live Mint