Vijay Mallya, the businessman who left India while owing a lot of money, is now asking the Karnataka High Court to make banks share details about the money they have recovered from him. He wants to know exactly how much the banks have collected from the loans he took out through his company, United Breweries Holdings Limited (UBHL). The High Court has sent official requests, called notices, to the banks involved. This means the court is looking into the matter.
Mallya believes he has the right to know the specific amount of money the banks have gotten back by selling his things. He says this information is important for him to understand how much he still owes. However, the banks will likely argue that they have the right to use every possible way to get back the money he owes them. They might not want to give him a detailed list of everything they have recovered.
The High Court has acknowledged Mallya’s request and officially notified the banks to respond. The court case is scheduled to continue on February 19th. This gives the banks time to prepare their answers for the court. The result of this case could affect other people who owe large amounts of money and the banks that are trying to get that money back.
This new legal challenge is the most recent event in the ongoing story of Vijay Mallya, his company United Breweries Holdings Limited, and the huge loans that started this situation. Mallya left India in 2016 after being accused of not paying back loans worth a very large sum of money. Since then, he has been living in the United Kingdom and fighting against being sent back to India. His legal battles are still going on, and this latest action in the Karnataka High Court shows he is determined to defend himself against the accusations.