Vijay Mallya, Indian fugitive.
London: India’s fugitive businessman Vijay Mallya has been completely insolvency by Indian investigative agencies. According to Mallya, the agencies have recovered many times more than that. Now the troubled businessman Vijay Mallya has demanded relief by based on a statement by Finance Minister Nirmala Sitharaman. Mallya says that in view of Finance Minister Nirmala Sitharaman’s recent statement in Parliament, there is no legitimacy left in the insolvency proceedings issued by Indian banks in Britain courts.
He has directed his lawyers to pursue the cancellation application. This week, the hearing of three mutual appeals related to Mallya’s insolvency order in the High Court of London was completed. This came to light when Justice Anthony Mann reserved the verdict, which would be pronounced later. The judge, led by the State Bank of India (SBI), heard a series of complex arguments associated with a union of banks, in which the 69 -year -old businessman’s now closed by Kingfisher Airlines demanded a repayment of an estimated loan of about 1.05 billion pounds arrears by Kingfisher Airlines. Was done
How much recovery from Mallya
“From the point of view of Dr. Malya’s managing partner and recently appointed advocate by Mallya, Managing partner and Mallya appointed by Mallya, there is no legitimacy left in these insolvency proceedings of Britain.” He said, “Now such evidence has come out which shows that not only the loan of banks has been repaid, but the banks have recovered more than the outstanding amount from Dr. Malya. This was confirmed by India’s Finance Minister Nirmala Sitharaman in a statement in a statement made in the Indian Parliament on 17 December 2024, in which he said that an amount of Rs 14,131.6 crore has been collected and returned to the banks. ” Crestohal emphasized that ‘should assume that the public sector banks would accept the truth of the minister’s statement in Parliament.
Mallya demands cancellation of insolvency order
Mallya has now applied to cancel the insolvency order on the same basis soon after directing his previous lawyer Reynolds Porter Chamberlane in place of his previous lawyer Reynolds Porter Chamberlane. He intends to pursue this application, even if the court should decide on the appeals heard this week. ” Mallya, wanted in different cases in India in allegations of fraud and money refinement, claimed on social media a day after Sitharaman’s statement in the Lok Sabha that he was ‘entitled to get relief’ in the matter. (Language)
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