Bengaluru:
Liquor Baron Vijay Mallya has presented before the Karnataka High Court that a loan of Rs 6,200 crore given by him for banks has been recovered “several times”, and has sought a statement of accounts giving details of the amount recovered from them, United Bruge Holdings Limited (Ubhl, Ubhl, Ubhl, Ubhl, Ubhl, Ubhl, Ubhl, now in liquidation), and other certificates debtors.
The High Court on Wednesday issued a notice to banks in response to a petition filed by the fugitive businessman.
Justice R Devdas directed banks to respond by 13 February.
Senior Advocate Sajan Puvay, who represented Mallya, argued that the curved order against Kingfisher Airlines and its holding company, UBHL was retained at all judicial levels including the Supreme Court.
He said that the loans have already been recovered, yet the additional recovery proceedings against Mallya continued.
Poovaiah informed the court that a loan recovery tribunal (DRT) had ordered Kingfisher Airlines as primary debtors, and UBHL to pay Rs 6,200 crore as a guarantor.
“That order received disability. However, between 2017 and now, Rs 6,200 crore has been recovered several times. According to a recruitment statement, according to today, the recovery officer has confirmed that Rs 10,200 crore recovered The liquidator has been re -acquired by the liquidity, and even the Finance Minister informed the Parliament that Rs 14,000 crore has been recovered, “he said.
He clarified that the petition does not dispute the repayment of the loan, but it argues that under the Companies Act, once the loan is repaid completely, the guarantor company (UBHL) has no remaining liability and revival Can search.
However, this process requires certification from the recovery officer that confirming that the loan has been completely settled, which has not yet been released. Meanwhile, the recovery continues without clarity on whether primary debt has been fully paid.
After the revised Recovery Certificate released by DRT on April 10, 2017, along with information about the original owners of assets used to generate these recovery, banks to give details of the amount recovered in their favor Requests to provide a statement.
Additionally, it wants Mallya, UBHL, or any property records related to the third party that live with banks, but have not yet been used for loan recovery.
As an interim relief, the petition demanded that banks stop at any further asset sale under the revised recovery certificate, unless the complete disposal of the loan is provided clarity.
(Tagstotransmit) Vijay Mallya (T) Karnataka High Court
