Fugitive businessman Vijay Mallya took a jibe at the banks, said- I still owe money

Fugitive businessman Vijay Mallya took a jibe at the banks, said- I still owe money

Fugitive businessman Vijay Mallya said that IDBI Bank has recovered its entire dues from the closed Kingfisher Airlines.

Vijay Mallya

Fugitive businessman Vijay Mallya took a dig at the banks for his argument that he still owed his money. Mallya made this remark along with a media report which said that IDBI Bank has recovered its entire dues from the defunct Kingfisher Airlines.

Mallya posted a news on Twitter. It said that IDBI Bank has recovered dues of Rs 753 crore from the airlines. With this the businessman tweeted, and the bank says, I am their debtor.

UK court declares Mallya bankrupt

Let us tell you that a UK court on Monday issued an order to declare Mallya bankrupt. This has paved the way for a consortium of Indian banks led by the State Bank of India (SBI) to initiate confiscation of assets of the defunct airline Kingfisher on a global scale to recover the outstanding debt.

Mallya owes Rs 9,000 crore

Mallya fled to the UK in March 2016. He is wanted in India in the case of loan misappropriation and money laundering to the tune of Rs 9,000 crore. This loan was given by many banks to Kingfisher Airlines. Businessman Mallya, 65, is currently out on bail in the UK. It is understood that he may remain on bail till the resolution of confidential legal proceedings on the issue of asylum in the country in a separate case related to the extradition process.

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