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Vijay Mallya slams Indian TV channels; calls coverage 'devoid of facts'(Express Photo)
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4. Vijay Mallya loan issue: The Supreme Court has issued a notice to Mallya on a plea filed by a consortium of 13 PSU banks headed by the State Bank of India. The lenders had moved the apex court to prevent Mallya from leaving the country and impounding his passport even as the loan recovery procedure for Kingfisher Airlines is still on.
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5. Vijay Mallya loan issue: The notice will be served through the Indian High Commission in London. Based on CBI inputs, Attorney General Mukul Rohatgi, appearing for the banks, informed the Supreme Court that Mallya left India on March 2 and could be in the UK. The apex court has sought Mallya's response to the banks' plea by March 30 which is the next date of hearing. (Express photo)
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3. Vijay Mallya: Thus, the aggregate cash recovery/security available is Rs 2,494 crore – (Mallya observed that a disinformation campaign had made him a poster boy of all banks' NPAs despite pledging blue chip securities and depositing unspecified amounts in court. He added that banks have NPAs of Rs 11 lakh crore and borrowers owe much more than Kingfisher Airlines.) (Express Photo)
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4. Vijay Mallya: None of these large borrowers have been declared wilful defaulters, but unfortunately, UB Holdings and I have been declared wilful defaulters by certain banks on technical grounds. I have legally challenged these declarations. (Express Photo)
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5. Vijay Mallya: My group invested Rs 4,000 crore into the airline which stands impaired – it is not as though it is only the bank debt that has suffered. Banks will recover a substantial part of their debt – my groups loss is permanent. Over the years, I have built businesses in India and abroad. I am also honoured to be a member of the Rajya Sabha (from Karnataka for the second time). (Express Photo)
Indian woman leaves US after layoff during F-1 OPT, calls goodbye ‘hardest step’
