Vijay Mallya strikes Supreme Court in search of keep on confiscation of his properties by ED in mortgage default case
In his plea Mallya has mentioned that he wished attachment of solely these properties associated to Kingfisher Airlines dealing with circumstances of alleged irregularities. The matter is listed for listening to on July 29 earlier than the apex court docket.
A consortium of banks led by the State Bank of India (SBI) had in 2016 filed a petition within the Supreme Court towards Mallya for his failure to repay the mortgage quantity of greater than Rs 8000 crore to numerous banks. Mallya had allegedly did not pay dues to greater than 15 banks.
The liquor tycoon had taken loans with a view to pay dues of the now-defunct Kingfisher Airlines, which was owned by him. Mallya had fled India in March 2016 and has been dwelling within the United Kingdom since then.
The consortium of banks had urged the court docket to direct Mallya to return to India and repay the mortgage. On 11 July, the Bombay High Court had dismissed Mallya’s plea in search of keep on the process for the confiscation of his properties by authorities companies.
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