Just a couple of days ago, a special PMLA court in Mumbai allowed a consortium of banks led by SBI to sell liquor baron Vijay Mallya’s real estate properties and securities to recover the unpaid loans his Kingfisher Airlines. Meanwhile, Mallya expressed his disappointment with people calling him a cheat and fraudster. He questioned whether no one considers that his assets are far in excess of Kingfisher Airline borrowings that have been attached by ED.
Earlier this morning, Mallya tweeted, “Have been watching TV and the repeated mention of my name as a cheat and fraudster. Does nobody consider that my assets far in excess of Kingfisher Airline borrowings have been attached by ED and several of my settlement offers to repay 100%? Where is the cheating or fraud?”
A consortium of 11 banks, led by SBI, which gave Mallya loans, had estimated a loss of Rs. 6200 crores due to his failure of repayment. The special PMLA court allowed these banks to restore properties worth Rs 5,646.54 crore.
Meanwhile, Mallya is currently in London and faces fraud and money laundering charges pertaining to more than Rs. 9000 crores, which are borrowed for his Kingfisher Airline Company. Even though the UK High Court ordered his extradition and restricted him in approaching the UK Supreme Court for the same, Mallya continues to stay there.
This post was last modified on 4 June 2021 4:30 pm
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