Now Reading: High Court tells Vijay Mallya and SBI to move on in asset dispute
-
01
High Court tells Vijay Mallya and SBI to move on in asset dispute
The Karnataka High Court on Monday asked fugitive businessman Vijay Mallya and the State Bank of India-led consortium of banks to move on in a dispute over the utilisation of his attached…
The Story in Brief
The Karnataka High Court on Monday asked fugitive businessman Vijay Mallya and the State Bank of India-led consortium of banks to move on in a dispute over the utilisation of his attached assets. Mallya had challenged a lower court order that allowed the bank consortium to use assets seized by the Enforcement Directorate. The court urged both parties to resolve the matter amicably, noting that the case has dragged on for years.
The Indian Opinion
The High Court's push for a resolution is sensible, but this case reveals a deeper rot: the endless legal tangles between banks and the ED over the same assets. Mallya owes banks Rs 9,000 crore, yet the fight over who gets to sell his properties first has delayed recovery for years. The test is simple: will the bank consortium receive court-sanctioned access to the attached assets within six months, or will Mallya's appeals stall the process further?
Source: ndtv.com
This story was synthesised by AI from the source linked above.
