New Delhi: In a stern warning to wilful defaulters like Vijay Mallya, finance minister Arun Jaitley said they should settle their dues honourably with the banks or else be ready to face "coercive action" by lenders and investigative agencies.
"I don't want to make any comments on individual cases but I think it's a responsibility of large groups like his (Vijay Mallya's) to honourably settle their dues with the banks," he told PTI in an interview here.
He further said that banks have certain collaterals of group companies of Vijay Mallya and will take legal action to recover dues that are in excess of Rs 9,000 crore.
"Banks have some securities. Banks plus other agencies have also coercive methods available with them through legal enforcement...these are all being investigated by relevant agencies," he said.
28/03/16 PTI/Times of India
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"I don't want to make any comments on individual cases but I think it's a responsibility of large groups like his (Vijay Mallya's) to honourably settle their dues with the banks," he told PTI in an interview here.
He further said that banks have certain collaterals of group companies of Vijay Mallya and will take legal action to recover dues that are in excess of Rs 9,000 crore.
"Banks have some securities. Banks plus other agencies have also coercive methods available with them through legal enforcement...these are all being investigated by relevant agencies," he said.
28/03/16 PTI/Times of India
