‘Debt recovered multiple times’: Mallya moves HC-OxBig News Network

Fugitive businessman Vijay Mallya on Wednesday claimed before the Karnataka High Court that the Rs 6,200-crore debt he owes to banks has been recovered “multiple times over”. He also sought a statement, detailing the amounts recovered from him, United Breweries Holdings Limited (UBHL, now in liquidation), and other debtors.

The high court issued a notice to banks in response to the petition filed by Mallya on February 3. Justice R Devdas directed the banks to respond by February 13.

As an interim relief, the petitioner also sought a stay on any further asset sale by banks… until clarity was provided on the full settlement of the debt.

Senior advocate Sajan Poovayya, representing Mallya, argued that the winding-up order against Kingfisher Airlines and its holding company, UBHL, had been upheld at all judicial levels, including the Supreme Court.

Poovayya contended that the debts had already been recovered, yet additional recovery proceedings continued against Mallya. He also informed the court that a Debt Recovery Tribunal (DRT) had ordered Kingfisher Airlines, as the primary debtor, and UBHL, as the guarantor, to pay Rs 6,200 crore.