By Court allows banks to sell Vijay Mallya’s real estate assets and securities
A Prevention of Money Laundering Act (PMLA) court has allowed banks to sell certain real estate assets and securities and of fugitive business tycoon Vijay Mallya to recover their debts.
Have been watching TV and the repeated mention of my name as a cheat and fraudster. Does nobody consider that my assets far in excess of Kingfisher Airline borrowings have been attached by ED and the several of my settlement offers to repay 100% ? Where is the cheating or fraud?
— Vijay Mallya (@TheVijayMallya) June 3, 2021
“The PMLA court has given permission to banks to sell certain real estate properties and securities that belonged to disgraced tycoon Vijay Mallya to recover dues loan amount of over ₹5,600 crore.
Mallya is accused in a bank loan default case of over ₹9,000 crore involving his defunct Kingfisher Airlines and is presently in the United Kingdom.
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