Friday, March 4, 2016

Lawyers of Vijay Mallya played the Rajya Sabha card at DRT today

In the debt recovery tribunal (DRT) today lawyers of Vijay Mallya played the Rajya Sabha card to prevent impounding his passport and seizure his assets.As a sitting member of Rajya Sabha any action against Mallya by DRT will harm the prestige of the upper house of the Parliament of India argued his layers.Mallya and Kingfisher Airlines owed Rs 7,800 crore to a consortium of 17 lenders led by State Bank

State Bank of India has filed a petition with the DRT after Mallya signed a deal with United Spirits Ltd and its parent Diageo last week that gets him $75 million or Rs 500 crore over five years.Vijay Mallya has decided to leave the country and settle down in London.