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Mallya should be barred from leaving India: Banks to SC

Source: PTI
Last updated on: March 08, 2016 12:56 IST
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A tribunal on Monday temporarily halted a $75-million settlement due to be paid by spirits giant Diageo Plc to Mallya after he resigned as chairman of Diageo unit United Spirits.

Vijay Mallya.The Supreme Court on Tuesday agreed to hear on Wednesday a plea filed by a consortium of 17 public sector unit banks seeking a direction that industrialist Vijay Mallya be restrained from leaving India.

"List it for hearing tomorrow," a bench comprising Chief Justice T S Thakur and Justice U U Lalit said, when Attorney General Mukul Rohatgi, appearing for PSU banks, mentioned the matter for urgent hearing.

Rohatgi said that the plea has been moved by 17 banks, including State Bank of India, against Mallya whose various firms have taken loan from them.

He also said that the dues run into thousands of crores.

Image: Vijay Mallya. Photograph: Reuters

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