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Lenders Seek to Claw Back $1 Billion Dues From India Beer Tycoon | Tony Seruga
Mar
09

Lenders Seek to Claw Back $1 Billion Dues From India Beer Tycoon

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  • Court case to bar Mallya’s travel abroad comes days too late
  • India’s top court gives Vijay Mallya two weeks to respond

A group of 17 lenders in India, fighting to recover as much as $1 billion in dues from a flamboyant former billionaire, found out Wednesday that their petition to bar him from leaving the country was filed a few days too late.

Attorney General Mukul Rastogi told a two-judge bench headed by Kurian Joseph of the Supreme Court, which was hearing the plea filed by the bankers, that Vijay Mallya, chairman and founder of the now-defunct Kingfisher Airlines Ltd. already left India on March 2. The court ordered Mallya to respond in two weeks…

Lenders Seek to Claw Back $1 Billion Dues From India Beer Tycoon

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