New Delhi: State Bank of India (SBI) has got the right to sell the real estate property of fugitive liquor baron Vijay Mallya to recover the loan.
That is, the bank can now withdraw its money stuck in debt by selling the confiscated properties of Vijay Mallya.
However, fugitive liquor businessman Vijay Mallya expressed his displeasure over this and said that my property has been confiscated more than the loan.
Mallya tweeted and wrote that watching TV and my name is being repeatedly mentioned as a fraud and a fraud.
Does no one believe that my assets in excess of what the Kingfisher airline has borrowed have been attached by the ED and that many of my agreements offer 100% repayment? Where is the fraud and the fraud?’
A special PMLA court in Mumbai on Tuesday allowed banks to return assets worth Rs 5,646.54 crore.
In fact, Mallya is allegedly accused of fraud and money laundering amounting to about Rs 9,000 crore. In this case its defunct Kingfisher Airlines is involved.
Former Kingfisher Airlines owner and businessman Vijay Mallya, 65, is out on bail in the UK on an extradition warrant since his arrest in April 2019.
Of the Rs 6,900 crore original loan given to Kingfisher Airlines, State Bank has given the maximum amount of Rs 1,600 crore.
Apart from this, other banks which have lent to the airline include Punjab National Bank (Rs 800 crore), IDBI Bank (Rs 800 crore), Bank of India (Rs 650 crore), Bank of Baroda (Rs 550 crore), Central Bank of India (Rs 410 crore).