Karnataka High Court To Hear Vijay Mallya's Plea Seeking Information On Kingfisher Debt Recovery In September

The Karnataka High Court on (Friday) listed in September pleas by fugitive liquor baron Vijay Mallya and Director of United Breweries Holdings Limited (in liquidation) Daljit Mahal, seeking a direction to the concerned Banks to provide a statement of accounts on the amounts owed by him, UBHL and other certificate debtors.The plea seeks that information be provided by taking into account the interest accrued periodically and giving due credit to all recoveries made from time to time, since the amended recovery certificate dated 10.04.2017, issued by the Debts Recovery Tribunal.Justice B M Shyam Prasad in his order said:“It is stated by Sr Advocate Sajan Poovayya that the present petition and the petition in WP 3357/2025, could be taken up together as common issues are being addressed. In so far as respondents who are yet to be served, ld Sr counsel points out that Sri Chandrakant K Patil can indeed take notice for these respondents as he is the ld counsel on record in WP 3357/2025. Therefore, dispensing notice to R2 to 4 and 8 to R 12. Sri Chandrakant K Patil is directed to take notice not only for these respondents but for other respondents served already. Relist the petitions on September 15.” Povvayya had earlier argued that winding up order against Kingfisher Airlines and holding company United Breweries Holdings Limited, (UBHL) attained finality and up to the Supreme Court the winding up has been confirmed. The amount due had already been recovered, and even still additional recovery proceedings had been carried out against Mallya.He had argued "Parallelly there was a debt recovery proceeding, in that a sum of Rs 6200 crore was ordered to be paid by the primary debtor Kingfisher and the UBHL which was the guarantor. That order also attained finality"."However, between 2017 the Rs 6200 crore was recovered multiple times over and there is an admitted statement which i have filed, as on date, the recovery officer says Rs 10,200 crore has been recovered. While the official liquidator says banks have made their money restored. Lastly a statement is made in the Parliament by the Finance Minister that 14,000 crore is recovered," he added.The plea prays for a statement to be issued by the banks- of amounts realised by or in their favour and details of the original owners of the assets utilized for realising the amounts following the amended recovery certificate dated 10.04.2017, issued by the DRT.Further, a statement of assets owned by the petitioner, UBHL or third parties, and which are available with the banks but not yet utilized for the purpose of satisfying the alleged debt owed under the amended recovery certificate.The plea also by way of interim order prays for staying all further actions being undertaken by Banks pursuant to the amended recovery certificate dtd. 10.04.2017 issued by DRT, including further sales of the petitioner's assets lying with them.Case Title: Vijay Mallya AND Recovery Officer-II & OthersCase No: WP 3357/2025 c/w WP 3356/2025.

Karnataka High Court To Hear Vijay Mallya's Plea Seeking Information On Kingfisher Debt Recovery In September

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Karnataka High Court To Hear Vijay Mallya's Plea Seeking Information On Kingfisher Debt Recovery In September

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