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Bengaluru: Fugitive tycoon Vijay Mallya offers to sell assets to repay bank loans

  •   Tue, Jun 26 2018 02:42:55 PM

Bengaluru, Jun 26 (IANS): Fugitive tycoon Vijay Mallya has sought the Karnataka High Court's permission to let him and his holding firm UBHL sell their assets under judicial supervision and repay creditors, including state-run banks.

"UBHL (United Breweries Holding Ltd) and myself have filed an application before the Karnataka High Court on June 22, setting out available assets of about Rs 13,900 crore," said Mallya in a letter released here on Tuesday.

Mallya has requested the court's permission to allow him to sell the assets under judicial supervision and repay creditors, including the state-run banks such amounts as may be directed and determined by the court.

The 62-year-old liquor baron, who fled the country in March 2016, has been living in London since then despite summons from Indian courts and law enforcement agencies to appear before them for trial in various cases.
  

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Comment on this article

  • Vincent Rodrigues, Bengaluru/Katapadi

    Wed, Jun 27 2018

    Government to explore the acceptance of Mallya's offer

    DisAgree Agree [1] Reply Report Abuse

  • Ashraf, Mangalore

    Wed, Jun 27 2018

    Not only repaying the bank loans, pending salary of his staffs who worked for airlines sector.
    This is just a game.
    God only knows the truth........

    DisAgree [1] Agree [2] Reply Report Abuse

  • mahesh, Mangalore

    Wed, Jun 27 2018

    Mallya has realised that, this Govt is serious about bringing him in.
    Thats why all this Drama.

    DisAgree [2] Agree [3] Reply Report Abuse

  • SMR, Karkala

    Wed, Jun 27 2018

    TIMES NOW accesses a letter that Liquor baron Vijay Mallya wrote to the PM Modi in 2016 where he vowed to pay the dues he owes to Indian banks.
    After two years of silence, I have decided to issue a comprehensive press statement. Vijay Mallya writes to public sector banks, says I continue to make all efforts to settle cases with the concerned banks. Further adds “tired of relentless pursuit by the government and criminal agencies.
    As per Public sector bank which lend Rs9,000 crores of bad loans Vijay Mallya is 'Wilful Defaulter'.

    1. Can Banks explain to the nation, how did he manage to own Premier Cricket Team and bid for star players and still sponsor Calendar girls even after his airlines Bankruptcy?
    2. If Mallya claims to repay loan selling his assets, why the banks is not considered taking over the assets when the loan is defaulted?
    3. How did 'Economic offender' can clear the Indian Air Space without the knowledge of the Central Home Ministry, Ministry of Finance and Ministry External Affairs?

    Vijay Mallya loses case in UK by Indian banks trying to recover $1.5 Billion. He can't escape the economic offence and offence if prosecuted in UK. So he is trying to come back to India to get new lease of life in nation cases drags years before offender dies of natural death.
    Jai Hind

    DisAgree Agree [2] Reply Report Abuse

  • Hector, Bengaluru/Dubai

    Tue, Jun 26 2018

    Hope these 'assets' are truly his! Also, why do we need his permission to sell his assets when all Banks, courts and CBI have declared him a wilful defaulter? Hope this is not a ploy to enjoy several more English summers and fool the English Courts ??

    DisAgree [1] Agree Reply Report Abuse

  • sp shetty, kateel \ dxb

    Tue, Jun 26 2018

    thats the Power of Modi, people have started paying back somehow, Nirav Modi is the next one.

    Narendra Modi - You can Love him or Hate him but dare you ignore him ... LOL, ROFl.

    DisAgree [21] Agree [20] Reply Report Abuse

  • Rolf, Dubai

    Wed, Jun 27 2018

    Mallya is big fequ .and you blind bakath in dubai still belive hin Drinking to much of gomuthra injury to your health.
    Grow up you are in Dubai. Not in lala land.

    DisAgree [5] Agree [3] Reply Report Abuse

  • NFS Rodrigues, Mangalore/Bangalore

    Tue, Jun 26 2018

    Priority is to pay employees their dues followed by banks/ financial institutions

    DisAgree [3] Agree [21] Reply Report Abuse

  • Cynthia, Mangalore

    Tue, Jun 26 2018

    Come on, do the procedures fast instead of dragging on, thereby causing tension to the government and your employees and we citizens.

    DisAgree [1] Agree [12] Reply Report Abuse

  • JK, southkanara

    Tue, Jun 26 2018

    Hope and wish like Mallya other absconded business tycoons who ran away to England by cheating Indian Banks also come in line to pay their debts.... In Kashmir too our Army and J&K Police have started to count down terrorists under Governors rule.... Good things are happening slowly.... It takes time for any Govt to get control over these type of crisis.... Hats off to MODI govt for doing right job to curb both tax evaders, terrorists and bankrupt businessmen together....

    DisAgree [19] Agree [19] Reply Report Abuse

  • EULALIA DSOUZA, MANGALURU

    Tue, Jun 26 2018

    Why can't court permit Mr. Mallya to go ahead and do this selling assets idea, within a limited time frame. This will help Indian Govt to recover some monies at least.
    If our systems are correct and transparent, this is an opportunity to get back some amount at least.
    Central Govt along with RBI's guidance and legal n judicial help, should start working on this immediately before Mr, Mallya changes his mind and issues another statement.
    If this offer is not accepted, then we know for sure that " there is hands in gloves " of our Political Babus behind all this drama.

    DisAgree [2] Agree [6] Reply Report Abuse

  • JK, southkanara

    Tue, Jun 26 2018

    Hope and wish like Mallya other absconded business tycoons who ran away to England by cheating Indian Banks also come in line to pay their debts.... In Kashmir too our Army and J&K Police have started to count down terrorists under Governors rule.... Good things are happening slowly.... It takes time for any Govt to get control over these type of crisis.... Hats off to MODI govt for doing right job to curb both tax evaders, terrorists and bankrupt businessmen together....

    DisAgree [12] Agree [9] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Jun 26 2018

    Triumph of Modi Sarkar.......

    DisAgree [12] Agree [27] Reply Report Abuse

  • Sukumar Hebbar, Mangalore

    Wed, Jun 27 2018

    Have moved over from Vinci Congress????

    DisAgree [2] Agree [1] Reply Report Abuse

  • Sahil, Mangaluru

    Tue, Jun 26 2018

    Our burden can not put on our own asset over the market valuation one more tactics to drag another 10 years. Just time matter another 10 years 20 years or 30 years.

    DisAgree [3] Agree [12] Reply Report Abuse

  • Rohan Pinto, Mangalore

    Tue, Jun 26 2018

    By the time most of petitioners will die

    DisAgree Agree [7] Reply Report Abuse

  • Rathan, Mangalore

    Tue, Jun 26 2018

    Rohan
    Petitioners r not individual all r PSU banks
    Hope MIDI will get one more term and all these cheaters will be brought to book and will be forced to pay and tell who all were there in the fraud

    DisAgree [1] Agree [1] Reply Report Abuse


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