Business
SBI tells Bombay HC Mallya owes Rs 8,752 crore
Livemint··3 Oct
SBI-led lenders told the Bombay High Court Vijay Mallya owed Rs 8,752 crore as of 31 August. They said a recovery officer had temporarily recovered Rs 10,270 crore under a bond. Outstanding stood at Rs 8,751.86 crore, excluding legal costs. The affidavit contests Mallya's claim that banks recovered more than dues. The case is next listed on 13 October.
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What It Means For You
- Banks say Mallya still owes about Rs 8,752 crore as of 31 August, excluding legal costs.
- The next Bombay High Court listing is on 13 October.
- Criminal pleas and civil recovery are proceeding on separate tracks, the report said.
What's Happening
- The SBI-led group filed an affidavit opposing Mallya's bid to quash a money laundering case.
- Lenders said Rs 10,270 crore was temporarily recovered under a bond undertaking.
- They also said several attached shares remain unsold.
How the dues dispute is cast
- Mallya has argued that lenders already recovered more than the original debt.
- The ED said assets worth nearly Rs 14,132 crore were returned to SBI for civil claims.
- ED and CBI cases over Kingfisher Airlines loans remain separate from DRT recovery.
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