The Karnataka High Court said Wednesday it will hear Vijay Mallya’s petition for details of accounts regarding the debts owed by him and his companies, as well as the amounts paid, on November 4, after the matter came up for hearing.
A bench of Justice Lalitha Kanneganti is currently hearing the matter.
The petition filed by Mallya against his creditors earlier this year called for a statement of the amounts realised by them, along with details of the original asset owners, as per the Debt Recovery Tribunal’s recovery certificate from 2017.
The petition also calls for another statement of assets owned by Mallya or United Breweries Holdings Limited (UBHL) in the creditors’ possession, alongside an interim stay on recovery efforts and asset sales.
The respondents in this case include a recovery officer of the Debts Recovery Tribunal, a financial asset reconstruction company, and 10 banks, including the State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), and others.
Mallya earlier contended that Rs 14,000 crore had been recovered from him, and that Rs 6,200 crore was owed to the banks, while referring to the matter in a social media post last year as “blatant injustice”.
In the proceedings Wednesday, the bench questioned the maintainability of the petition before the Karnataka High Court, orally observing that it ought to have been part of a company petition.
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The counsel appearing for the banks, on the other hand, compared Mallya’s petition to an RTI application, arguing that he sought the information to pursue insolvency proceedings in the UK.
Responding to a request from Mallya’s side for the appearance of their senior counsel, the bench fixed the matter for November 4, while again expressing its earlier views on the maintainability of the petition.
More recently, Vijay Mallya also made a statement on social media regarding this issue.
“The Indian Public Sector Banks who claim monies from me as a guarantor should be ashamed that they have not yet submitted an accurate statement of account of recoveries……I will not pursue legal action in England till the Indian Public Sector Banks come clean as I have a justified counter claim that can be adjudicated only in India,” Mallya said in a post on X.