Tribunal orders attachment of Mallya's property for debt recovery

Gallery

MORE...

Sports

Mensik denies Djokovic 100th title in Miami final

Jakub Mensik overcame rain and an opponent chasing history when he stunned six-time champi

KIPG: Son of a vegetable vendor, Bihar’s Jhandu Kumar eyes Worlds, 2028 Paralympics

Hardik Singh credits hard work and team unity for receiving HI Midfielder of the Year award

Djokovic, Alcaraz land in same half of Miami draw

India to host 2nd Asian Yogasana Championships from March 29 to 31

FA Cup: AFC Bournemouth secure 5-4 penalty shootout win vs Wolves to reach QF

MORE...

Tribunal orders attachment of Mallya's property for debt recovery

Last Updated : 19 Jan 2017 01:01:54 PM IST

$Tribunal orders attachment of Mallya\$

(File photo)

The Debt Recovery Tribunal (DRT) on Thursday ordered attachment and recovery of industrialist Vijay Mallya's properties for defaulting on bank loans by his defunct Kingfisher Airlines Ltd.

The Bengaluru bench of the Tribunal said properties of Mallya and Kingfisher worth Rs.6,203 crore plus interest at 11.5 per cent from July 26, 2013 can be recovered by a consortium of banks led by State Bank of India (SBI).

"The Tribunal has allowed our petitions against Mallya's Kingfisher and issued an order to attach their properties for recovering the amount (Rs.6, 203 crore) with interest," counsel for the consortium told reporters here.