BENGALURU
Fugitive businessman Vijay Mallya has approached the Karnataka High Court seeking directions to banks to stop charging interest on amounts already recovered from him and Kingfisher Airlines.
Mallya, in his petition, urged the court to direct banks to furnish details of the assets used for recoveries and those still available under the amended recovery certificate issued by the Debt Recovery Tribunal (DRT) in April 2017. He claimed that recovery proceedings continued despite banks already realising the full amount.
Senior Advocate Sajan Poovayya, appearing for Mallya, argued that recoveries had exceeded dues, citing Enforcement Directorate and Finance Ministry data showing over ₹14,000 crore in assets restored to banks.
However, Senior Advocate Vikram Huilgol, representing the banks, said all recoveries remained provisional until Mallya submitted to the court’s jurisdiction. Justice Lalitha Kanneganti adjourned the case to November 12 for further hearing.
