Vijay Mallya moves high court, accused banks of recovering debt 'multiple times over'

Fugitive businessman Vijay Mallya has approached the Karnataka High Court against proceedings to recover the debt of his now-defunct airline Kingfisher Airlines, Bar and Bench reported.

He claimed that while Kingfisher Airlines had debts to the tune of Rs 6,200 crore, banks have recovered the “principal debt amount multiple times over”.

The High Court on Wednesday sent notices to ten banks in response to the petition.

Mallya claimed that a recovery officer had acknowledged that an amount of Rs 10,200 crore had been paid by Kingfisher Airlines, Live Law reported. He also noted that the finance ministry stated in the Lok Sabha in December that public sector banks had recovered over 14,000 crore by selling his assets.