‘I am in Forced Exile Because of Indian Media,’ says Vijay Mallya

The Debt Recovery Tribunal (DRT) in Bengaluru on Friday (April 29) questioned Diageo Plc about the delay in furnishing details of the USD 75 million severance package agreed up on between beleaguered tycoon Vijay Mallya and the company. “In my earlier ruling as well, I had directed the company to furnish the details of the severance package… why it has not been placed before this court yet?” DRT Presiding Officer C R Benakanahalli asked the company’s counsel during the resumed hearing on applications filed by SBI-led bankers’ consortium. SBI had filed an application for securing first right on the USD 75 million severance package Diageo has agreed to pay Mallya for quitting as Chairman of the company-owned United Spirits (USL) under a sweetheart deal. The other three applications sought impounding of Mallya’s passport, getting him arrested and full disclosure of his assets in the country and abroad. Taking cognisance of delay in furnishing details of the severance package, Benakanahalli directed Diageo Plc to submit the same by May 12. Benakanahalli, however, overruled the plea of the bankers to take up the matter on daily basis, saying that he would rather hear it on priority basis.”As per the Supreme Court’s direction, I have to complete the court proceedings into the matter in two months from the date of commencement of the hearing, so I will take the matter up on priority basis, not on daily basis, as I have many other cases pending before me, which also need timely disposal,” he said.

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