Supreme Court to Hear PSU Banks’ Plea Against Vijay Mallya Today
The king of what times, again?
The Supreme Court will hear on Wednesday a plea filed by a consortium of 17 PSU banks, including State Bank of India (SBI), on industrialist Vijay Mallya. The banks have moved the apex court to prevent Mallya from leaving the country.
“List it for hearing tomorrow,” a bench comprising Chief Justice S Thakur and Justice U U Lalit said, when Attorney General Mukul Rohatgi, appearing for PSU banks, mentioned the matter for urgent hearing.
Rohatgi said that the plea has been moved by the 17 banks against Mallya whose various firms have taken loans from them. He also said that the dues run into thousands of crores.
On Monday, the Debt Recovery Tribunal (DRT) has passed an order keeping the Diageo money out of liquor baron Vijay Mallya’s reach for now. The DRT has ruled that Mallya cannot withdraw the $75 million he received from Diageo to quit the liquor business, until the case is disposed of. The tribunal has set the next hearing of the case for 28 March.
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