Vijay Mallya moves Karnataka HC for bank records on loan recoveries; court lists plea for hearing in Sept

Bengaluru, Aug 29 (IANS) The Karnataka High Court, on Friday, listed the petition by fugitive liquor baron Vijay Mallya, demanding a direction to the concerned banks to provide a statement of accounts on the remaining debt amount owed by him and others to September 15.

The United Breweries Holdings Limited (UBHL) Director, Daljit Mahal, has also filed a plea in this regard.

The petitions have sought a direction to release statement by banks on the remaining debt owed by Vijay Mallya and UBHL and other certificate debtors.

The plea has also been made asking for financial details or an updated account that includes interest that has been accumulating over time, and proper credit for any payments or recoveries that have been made since April 10, 2017, which is the date of the updated recovery certificate issued by the Debts Recovery Tribunal.

Considering the petition, the bench headed by Justice B.M. Shyam Prasad passed the order to list the matter on September 15.

Senior counsel Sajan Poovayya appearing for Vijay Mallya had submitted before the court that a winding up order i.e., a legal order to shut down a company and sell its assets to pay debts was issued against Kingfisher Airlines and its parent company UBHL.

"This winding up order has been confirmed all the way up to the Supreme Court. The amount owed has already been recovered. Despite that, additional recovery actions were still being taken against Vijay Mallya, the owner/promoter," he said.

"The companies have been legally shut down, the courts, even the Supreme Court, have confirmed it, and the debt has already been paid back. Yet, further recovery actions are still being taken against Mallya — possibly unnecessarily or unfairly," counsel Poovayya added.

He also said that Rs 6,200 crore, which was ordered to be paid by primary debtor Kingfisher and guarantor UBHL, was recovered multiple times and there is an admitted statement, wherein the recovery officer says Rs 10,200 crore has been recovered.

Poovayya also added that the statement is also made in the Parliament by the Union Finance Minister Nirmala Sitharaman that Rs 14,000 crore has been recovered.

The petition seeks interim orders for staying all further actions by banks.

The petition also sought details of assets and properties which are with banks and not utilised towards the debts.

--IANS

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