Now Reading: Bombay HC seeks ED reply on Mallya’s closure plea
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Bombay HC seeks ED reply on Mallya’s closure plea
The Bombay High Court on Wednesday directed the Enforcement Directorate to submit the current status of its investigation and asset attachments before it can consider Vijay Mallya's application to close a pending…
The Story in Brief
The Bombay High Court on Wednesday directed the Enforcement Directorate to submit the current status of its investigation and asset attachments before it can consider Vijay Mallya's application to close a pending matter. The court also wants verification from the lead lender, the State Bank of India. The next hearing is on September 9. Justice Milind Jadhav orally observed that the decade-old commercial dispute should be concluded.
Mallya's lawyer argued that banks have recovered around Rs 15,000 crore against an original claim of about Rs 6,203 crore, settling all civil liabilities. The court said it must hear the ED first. Mallya left India in 2016 and was declared a fugitive economic offender in 2019.
The Indian Opinion
Mallya's claim that banks have recovered more than the original claim sounds neat, but the facts need scrubbing. The Enforcement Directorate and State Bank of India must confirm that all attached assets have been liquidated and no criminal liability remains. The court is right to insist on verification before closing a case that has dragged for a decade. The real test will be the ED's report on September 9: will it show any pending claims or hidden assets, or will it finally draw a line under this saga?
Sources (2): indiatoday.in, thehindu.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
