NEW DELHI: Reacting to UK High Court's resolution in opposition to fugitive liquor baron Vijay Mallya, State Bank of India (SBI) managing director (MD) Arijit Basu has mentioned that the rustic's biggest lender is 'more than pleased'.
" (We are) very happy with UK enforcement order against Mallya, hope to recover our money", mentioned Basu, as reported by information company PTI.
"We have recovered Rs 963 crore from auction of Vijay Mallya's Indian assets," Basu , who changed into the MD of SBI earlier this week, added.
The response comes following the UK High Court's ruling in favour of a consortium of 13 Indian banks which granted permission to enforcement officers to go into the estate of fugitive liquor baron Vijay Mallya to grab his possessions.
SBI is the chief of consortium of 13 banks that lent money to Mallya's now defunct Kingfisher Airlines.
The former liquor baron has been staying with his good friend Pinky Lalwani on the estate positioned in quintessentially English upper-class village of Tewin after fleeing India.
The order comes after Mallya misplaced a case in the High Court in opposition to the registration of the Bengaluru Debt Recovery Tribunal (DRT) judgement in UK courts.
The DRT dominated that Mallya owes the consortium Rs 6,203 crore plus interest amounting to Rs 9,863 crore.
" (We are) very happy with UK enforcement order against Mallya, hope to recover our money", mentioned Basu, as reported by information company PTI.
"We have recovered Rs 963 crore from auction of Vijay Mallya's Indian assets," Basu , who changed into the MD of SBI earlier this week, added.
The response comes following the UK High Court's ruling in favour of a consortium of 13 Indian banks which granted permission to enforcement officers to go into the estate of fugitive liquor baron Vijay Mallya to grab his possessions.
SBI is the chief of consortium of 13 banks that lent money to Mallya's now defunct Kingfisher Airlines.
The former liquor baron has been staying with his good friend Pinky Lalwani on the estate positioned in quintessentially English upper-class village of Tewin after fleeing India.
The order comes after Mallya misplaced a case in the High Court in opposition to the registration of the Bengaluru Debt Recovery Tribunal (DRT) judgement in UK courts.
The DRT dominated that Mallya owes the consortium Rs 6,203 crore plus interest amounting to Rs 9,863 crore.
Very happy with UK enforcement order against Mallya, says SBI MD
![Very happy with UK enforcement order against Mallya, says SBI MD]()
Reviewed by Kailash
on
July 06, 2018
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