India Top Stories

Karnataka High Court hears Mallya’s plea on recovered assets and loans

Banks told to file objections as hearing adjourned to November 12

Vijay Mallya , the fugitive liquor baron, approached the Karnataka High Court on Tuesday seeking full details of assets seized in connection with his loan default cases. The petition also asked that banks stop charging interest on the amounts already recovered.

Here To Join Us On WhatsApp

Mallya’s counsel, senior advocate Sajan Poovayya, argued that under proceedings initiated by the Enforcement Directorate (ED) and the Prevention of Money Laundering Act (PMLA), many of Mallya’s properties had been attached. He told the court that around Rs 10,000 crore had been recovered so far. According to him, “More than what was

See Full Page