Karnataka
Fugitive businessman Vijay Mallya has challenged the ongoing debt recovery process against Kingfisher Airlines in the Karnataka High Court. Vijay Mallya has claimed that Kingfisher Airlines had a debt of about 6200 crores. The bank officials have recovered more than the early loan amount. Let us tell you that this petition was filed on 3 February 2025. A brief hearing was held on Wednesday by Justice R Devdas on the matter.
Senior advocate Sajan Puvaiya, who appeared for Vijay Mallya, told the High Court that he was not asking for any interim relief, until the hearing from the parties concerned. The court has issued a notice to ten banks, one recovery officer and one asset reconstruction company while hearing this petition. Let us tell you that they have been made a party in the petition.
Vijay Mallya challenged his recovery process against several national and private banks (including State Banks of India, Punjab National Bank and an asset reconstruction company) earlier this week. In his petition, Mallya requested the court that the process of recovery should be stopped at the moment and the interim adjournment order should be issued.
In December last year, Vijay Mallya claimed in a social media post that banks have recovered interest in addition to the loan amount of 6,203 crore. This amount was determined by the Debt Recovery Tribunal. He also claimed that Union Finance Minister Nirmala Sitharaman recently said in the Lok Sabha that Vijay Mallya’s assets of 14,131.6 crore have been returned to public sector banks. Let us tell you that Vijay Mallya fled to Britain in 2016. He is wanted due to default in the debts of several banks given to Kingfisher Airlines in India.
