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Karnataka HC issues notice after Vijay Mallya says banks recovered debt ’multiple times over’ in Kingfisher loan case

Fugitive businessman Vijay Mallya has approached the Karnataka High Court seeking clarity on banks' loan recovery process. Nearly ₹6,200 crore was to be repaid, but ₹14,000 crore has already been recovered, Mallya's counsel claimed on Wednesday, reported ANI.

Mallya's counsel, senior advocate Sajan Poovayya, argued that despite recovering the entire loan amount, the process is still ongoing. Claiming that the banks have already recovered ₹14,000 crore, Mallya has requested the banks to provide a statement detailing the total recovered amount.

The Karnataka High Court issued a notice to banks based on the petition filed to provide a statement of accounts for the amounts owed by him, United Breweries Holdings Limited and other certificate debtors, reported Live Law.

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Based on Vijay Mallya's petition, the high court bench, led by Justice R Devdas, issued a not

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Vijay Mallya

Indian businessman and politician (born 1955)

Vijay Vittal Mallya (born 18 December 1955) is an Indian fugitive, former businessman,^[5] and politician.^[6]^[7] He is the subject of an extradition effort by the Indian Government to return him from the UK to face charges of financial crimes in India.^[8]

The son of a businessman who was also in the alcoholic beverages business, Mallya is the former chairman of United Spirits, the largest spirits company in India, and continues to serve as chairman of United Breweries Group, an Indian conglomerate with interests including beverage alcohol, aviation infrastructure, real estate, and fertilizer. He was the chairman of Sanofi India (previously known as Hoechst AG and Aventis) and the chairman of Bayer CropScience in India for over 20 years, and the chairman of several other companies.^[9] Mallya was also the founder and former owner of defunct Kingfisher Airlines and former co-owner of the Force India Formula One team before it went into administration. He is also a former