The Industrialist Vijay Mallya had left the country on March 02 2016 due to public sector banks questions regarding the loan of Rs9000 Crores which moved the Debt Recovery Tribunal on March 02 2016 aganist him.
Attorney-General Mukul Rohatgi, who appeared for consortium of banks, said to the apex court about Mr. Vijay Mallya.He answered for Justices Kurian Joseph and Rohinton Nariman about Mr. Mallya. After, the incident the banks approached the supreme court with a plea to restrict Mallya leaving from India by Seizing his passport.
Mr. Rohatgi responded for all the questions of Justices Nariman. He stated that apex court to pass an order to vijay Mallya to appear before the judge with his passport in hand. Mr. Rohatgi said that, his motive is to settle back all the money of public sectory banks loans.
When coming to Vijaya Mallya assets, it is known that all his property are in abroad countries and one-fifth in India. But, the Justice Kurian asked public sector banks about giving loans for Mallya without any secured assets. After, Mr. Rohatgi replied kurian question saying when the time the loan was sanctioned the “KingFisher Airlines” was a brand at its peak having 1000 crores assets.
The Court then issued a notice to Mr. Mallya through his company named “United Breweries Holdings Limited” addressing his counsel, Indian High Commissioner at the U.K and Via his official Rajya Sabha email address. Later on the court sought a reply within 2 weeks in fixing the issue and the hearing will be on March 30 2016.
The court asked Mr. Rohatgi “Is there any guarantee that Mr. Mallya would be in the UK to reply for the court notice asked by Justice Kurian. Mr. Rohatgi answered that “Mr. Mallya has tremendous assets there so, definitely he will get know about notice.