Vijay Mallya Case: SC To Hear Banks' Plea On The Liquor Baron Leaving Country

09/03/2016 11:08 AM IST | Updated 15/07/2016 8:26 AM IST
Force India team principal and businessman Vijay Mallya waves as he walks down the F1 paddock after the third practice session for the Indian Formula One Grand Prix at the Buddh International Circuit in Noida, on the outskirts of New Delhi, India, Saturday, Oct. 27, 2012. (AP Photo/Saurabh Das)

NEW DELHI -- The Supreme Court will hear today a plea filed by public sector banks seeking a direction that liquor baron Vijay Mallya be restrained from leaving India.

These banks had advanced loans of over 9,000 crore rupees to his firm.

The consortium of banks, in their appeal, have assailed the March 4 order of the Karnataka High Court refusing an ex-parte ad interim order against Mallya, England-based Diageo Plc and United Spirits Limited.

The banks said that the High Court should have passed an interim order, securing their financial interests.

Prior to moving the High Court, the banks had filed four pleas in the Debt Recovery Tribunal (DRT) at Bengaluru seeking reliefs like freezing of Mallya's passport and arrest warrant against him.

They had also sought a direction to Mallya that he should disclose his assets on oath. The DRT, on March 2, heard arguments only on one plea and did not consider other three pleas which were related to freezing of the passport and restraining Mallya from leaving country.

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