BENGALURU
The Karnataka High Court orally dismissed a petition filed by fugitive businessman Vijay Mallya seeking details about the loans and recoveries related to Kingfisher Airlines, formerly owned by United Breweries Holdings Limited (UBHL).
A single-judge bench headed by Justice Lalita Kanneganti, while hearing Mallya’s plea, observed that such matters should be pursued before the appropriate company tribunal. “How can this petition be entertained by this court? If you wish to obtain the details, you can file an interim application in the petitions pending before the company court. But on the face of it, this plea cannot be accepted here,” the judge remarked.
Mallya had sought a complete statement of accounts, including adjustments made against recoveries from him over time. The petition claimed that after the closure of Kingfisher Airlines, a debt of ₹6,200 crore was determined as payable. However, the Union government informed the court that banks had already recovered over ₹14,000 crore from Mallya and his associated entities.
Senior advocate Vikram Huilgol, representing the consortium of banks, argued that insolvency proceedings concerning UBHL were already underway before the company tribunal and that any party seeking financial details must approach that forum. “This petition is akin to an RTI plea seeking disclosure of recoveries and attached assets,” he said.
Agreeing with the submission, Justice Kanneganti declined to entertain Mallya’s plea, advising that any such information be sought through the appropriate legal channel.
The bench subsequently adjourned the matter to November 4 for further proceedings.
