Now Reading: Bombay HC tells ED to move on Mallya asset dispute
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Bombay HC tells ED to move on Mallya asset dispute
The Bombay High Court on Wednesday directed the Enforcement Directorate to file an affidavit confirming whether the settlement process in Vijay Mallya's asset recovery case is complete. The division bench observed that…
The Story in Brief
The Bombay High Court on Wednesday directed the Enforcement Directorate to file an affidavit confirming whether the settlement process in Vijay Mallya's asset recovery case is complete. The division bench observed that the long-running dispute between Mallya and an SBI-led bank consortium 'needs to be brought to an end.' Mallya's senior advocate Amit Desai argued that his 2020 petition challenging asset seizure was now redundant because most assets had been attached and dealt with.
Desai claimed that banks have already recovered around Rs 15,000 crore from Mallya against the original claimed dues of Rs 6,203.35 crore plus interest. The court made clear that any closure of this civil dispute would not affect the criminal prosecution against Mallya, which must still reach its logical conclusion.
The Indian Opinion
Mallya's claim that Rs 15,000 crore has been recovered against the original dues of Rs 6,203 crore ignores the accumulated interest and enforcement costs that make the total liability far larger. At the same time, the continued pursuit of civil proceedings while extradition remains stuck in the UK gives ammunition to those who see the legal system as vindictive rather than efficient. The ED's affidavit on whether full satisfaction has been achieved will be the real test.
Sources (4): hindustantimes.com, ndtvprofit.com, livemint.com, news.abplive.com
This story was synthesised by AI from the 4 sources linked above.
Updated: this story now draws on 4 sources.
