Britain's High Court orders Mallya's seizure of assets in London
State Bank of India managing director (M.D.) Arijit Basu told that Indian banks are working closely with UK government agencies to recover the maximum amount of dues on alcohol trader Vijay Mallya.
Mallya is living in India and living in the UK. A court there gave him the authority to investigate and seize his properties there. Basu told reporters in Delhi, "We are very happy with the order of the court. We hope we will recover the properties by such order. Without giving any figures, Basu said, "We hope that our dues will recover very well." When asked about the action taken against Mallya in the country, he said that 963 crore rupees have been recovered from the group of banks by auctioning their properties.
Let the Kingfisher Airlines give loans to 13 groups of banks. State Bank of India has the largest share in it. The UK High Court issued important orders in favor of Indian banks for recovery of money from Mallya in an order in the Hull. Under this, the officials and agents can enter the Mallya's London-based bases for the recovery operation and they can also use appropriate force if required.
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State Bank of India managing director (M.D.) Arijit Basu told that Indian banks are working closely with UK government agencies to recover the maximum amount of dues on alcohol trader Vijay Mallya.
Mallya is living in India and living in the UK. A court there gave him the authority to investigate and seize his properties there. Basu told reporters in Delhi, "We are very happy with the order of the court. We hope we will recover the properties by such order. Without giving any figures, Basu said, "We hope that our dues will recover very well." When asked about the action taken against Mallya in the country, he said that 963 crore rupees have been recovered from the group of banks by auctioning their properties.
Let the Kingfisher Airlines give loans to 13 groups of banks. State Bank of India has the largest share in it. The UK High Court issued important orders in favor of Indian banks for recovery of money from Mallya in an order in the Hull. Under this, the officials and agents can enter the Mallya's London-based bases for the recovery operation and they can also use appropriate force if required.
Click Here News
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