Vijay Mallya Moves Karnataka High Court, Seeks Loan Recovery Accounts from Banks
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Vijay Mallya Moves Karnataka High Court, Seeks Loan Recovery Accounts from Banks Fugitive businessman Vijay Mallya has filed a petition in the Karnataka High Court , seeking loan recovery accounts from banks. Mallya, who is currently living in London and facing extradition efforts by the Indian government , claims that banks have already recovered more than twice the loan amount he owed. His legal counsel argues that despite this, the recovery process is still ongoing, and he is still being labeled as an economic offender . Senior advocate Sajan Poovayya appeared on behalf of Mallya, presenting his case before the High Court bench led by Justice R Devadas . The court has issued notices to the banks and loan recovery officers , seeking their response on the matter. Mallya’s Legal Arguments: Claims of Over-Recovery According to Mallya’s counsel, the total loan amount due was ₹6,200 crore , but the banks, along with the Enforcement Directorate (ED) , have recovered ₹14,000 crore ...