Vijay Mallya in trouble, Tribunal gives permission to banks to recover Rs. 9,000 crore debt
The Tribunal's permission came in response to a plea by the consortium which is now at liberty to attach Mallya’s assets to recover the money.
The Tribunal said Rs 6203.35 crore at the interest rate of 11.5 per cent would be recovered from Mallya’s Kingfisher now defunct Kingfisher Airlines, Finvest and United Breweries Holdings Ltd.
Mallya, against whom a non-bailable warrant has been issued, left for the UK in March, 2016. He has been there since then.
The Supreme Court on January 11 issued a notice to Mallya, asked him to submit an affidavit following a petition filed against him by the consortium.
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