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Mallya may have left India, banks urge SC to keep him in the country

by IBNS 08 Mar 2016, 08:09 pm

#Mallya may have left India # banks urge SC to keep him in the country

Mumbai, Feb 9 (IBNS) Disgraced liquor baron Vijay Mallya, the former United Breweries (UB) group chairman, is believed to have left India even while the consortium of banks to which his grounded Kingfisher Airlines owe a massive debt were asking the Supreme Court (SC) on Tuesday to stop him from leaving, according to media reports.

The lenders had even got a Bengaluru debt court to temporarily halt payments from UK-based Diageo Plc of which United Spirits Limited (USL) is a unit, USL is the flagship of the UB group,
 
Reportedly, Mallya had left the country a few days before the consortium approached SC.
 
Quoting sources, NDTV has reported that CBI has said that it is aware that Mallya is not in the country but will track him when necessary.
 
Adding troubles for liquor baron Vijay Mallya the  Enforcement Directorate has registered a money laundering case against him and chief financial officer of now-defunct Kingfisher Airlines in connection with a bank fraud case.
 
The case has been filed by the ED  on the basis of a CBI probe into the alleged default of Rs 900 crore loan in conspiracy with IDBI Bank officials.
 
Meanwhile, he has also been barred from accessing Rs 515 crore severance pay by Debt Recovery Tribunal.
 
On charges of defaulting on loan, the Karnataka High Court had recently issued notice to the liquor baron  on a petition filed by State Bank of India (SBI) and 12 other banks seeking his arrest.
 
The creditors are led by the State Bank of India.
 
Mallya last month stepped down as chairman of India's top liquor company United Spirits or the UB Group.
 

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