Vijay Mallya moves Karnataka High Court over loan recovery details

New Delhi: Fugitive businessman Vijay Mallya has petitioned the Karnataka High Court, seeking details of loan recovery from banks. Mallya’s lawyer, Sajan Poovayya, argued that while Rs 6,200 crore was to be returned, Rs 14,000 crore has already been recovered.

He cited a statement by the Finance Minister in the Lok Sabha, claiming that the debt recovery officer reported a recovery of Rs 10,200 crore.

Mallya’s legal team contended that despite the loan being cleared, recovery proceedings continue. The petition requests the court to direct banks to provide a statement of recovered amounts.

Following the plea, a high court bench led by Justice R Devdas issued notices to banks and debt recovery authorities. Mallya, currently in London, remains the subject of India’s extradition efforts over alleged loan defaults.