Vijay Mallya returning back to India after 8 years
- India South Asia
Shreya Naskar- 0
- 3 minutes read
Vijay Mallya is set to return back to India as he files a petition in Karnataka HC related to the previous loans he took from 17 banks. He has taken around 6,200 Crores and as per the statement he has paid around 14,000 Crores, yet no relief has been granted to him by the respective banks.
The Karnataka HC has asked those banks and their respective recovery officers to sum up all the details related to the amount of money paid by Vijay Mallya in regard to the money taken by him before 2016. According to the statements made by Vijay Mallya, he has paid the said amount by all the banks and cleared the respective procedures still, he is repetitively been asked for money.
As known, Vijay Mallya is an Indian fugitive businessman and politician previously a member of the Akhila Bharat Janata Dal (Secular) and Indian National Congress and co-founder of various Indian and international companies, also the founder of Kingfisher Airlines. Vijay Mallya was once called the “Times King of Good”, involved in financial scandals and various controversies in 2012.
. Vijay Mallya took a loan from 17 banks for around rupees 90 billion. He used these loans to gain partial or 100% stakes in around 40 companies worldwide. Unable to pay the money back, Vijay Mallya moved to the UK stating that he wanted to settle with his family. 17 banks filed a joint petition against Vijay Mallya, the court stated that Vijay Mallya’s assets abroad sum to an amount lot more than the amount taken by him. Soon a case was filed against him, The UK government arrested him several times about the fraud cases attempted by him but, nothing could be done to bring him back to India.
Now, as he is tired of paying money to these banks, he filed a petition in the Karnataka HC to look at his case for one more time. Further details related to Vijay Mallya returning to India and hearings of his petition will be further known.