New Delhi: The Supreme Court Wednesday questioned public sector banks (PSBs) over advancing loans to Vijay Mallya, the founder-owner of Kingfisher Airlines, and his companies without securing enough assets in guarantee. It also issued a notice to Mallya who flew out of India on March 2, the day the banks sought the impounding of his passport as part of loan recovery proceedings.
When asked by a bench of Justices Kurian Joseph and Rohinton F Nariman, Attorney General Mukul Rohatgi said, “I have checked with the CBI. He (Mallya) left the country on March 2, the day we moved our application before the Debts Recovery Tribunal for impounding his passport… he has tremendous assets in the UK. So in all likelihood, he should be there. He has also been tweeting from there and says he is not an absconder. So he should be called here.”
Rohatgi requested the bench to issue an order summoning Mallya to the top court and deposit his passport till the recovery proceedings were underway. But the bench said it would first issue a notice to Mallya and wait for his response.
10/03/16 Utkarsh Anand/Indian Express
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When asked by a bench of Justices Kurian Joseph and Rohinton F Nariman, Attorney General Mukul Rohatgi said, “I have checked with the CBI. He (Mallya) left the country on March 2, the day we moved our application before the Debts Recovery Tribunal for impounding his passport… he has tremendous assets in the UK. So in all likelihood, he should be there. He has also been tweeting from there and says he is not an absconder. So he should be called here.”
Rohatgi requested the bench to issue an order summoning Mallya to the top court and deposit his passport till the recovery proceedings were underway. But the bench said it would first issue a notice to Mallya and wait for his response.
10/03/16 Utkarsh Anand/Indian Express
