SC To Hear Plea To Restrain Vijay Mallya From Leaving Country

The Supreme Court will hear plea of 13 banks which had advanced loans of over Rs 9,000 crore to liquor baron Vijay Mallya, seeking a direction to restrain him from leaving India. The consortium of banks, in their appeal, has assailed the March 4 order of the Karnataka High Court refusing an “ex-parte ad interim” order against Mallya, England-based Diageo Plc and United Spirits Limited. Kingfisher Airlines, promoted by Vijay Mallya whose other group entities included United Breweries, owes close to Rs 7,000 crore in principal to 17 banks, mostly state-run lenders.

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