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Stop Mallya from leaving country: Banks urge SC

Apex court on Tuesday agreed to hear an appeal on Wednesday filed by a 17 government-run banks urging an order that industrialist Vijay Mallya be stopped from leaving the country.

Policy Pulse
Publish Date: Mar 8 2016 12:03PM | Updated Date: Mar 8 2016 12:03PM

Stop Mallya from leaving country: Banks urge SC

 Apex court on Tuesday agreed to hear an appeal on Wednesday filed by a 17 government-run banks urging an order that industrialist Vijay Mallya be stopped from leaving the country.

 
“List it for hearing tomorrow,” bench consisting of Chief Justice TS Thakur and Justice UU Lalit said, after Attorney 
General Mukul Rohatgi, appearing for PSU banks, mentioned the matter for urgent hearing.
 
AG said petition has been moved by 17 banks, including State Bank of India, against Mallya whose several firms have taken loan from them.
 
Last Sunday, chairman of United Breweries Holdings Ltd (UBHL) had said he had no plan of running away from the country, and that he has been looking for a one-time settlement with the consortium of 17 banks to which Kingfisher Airlines owes more than Rs 7,000 crore.