Karnataka HC to hear Vijay Mallya’s plea on debt recovery in Sept

Mangalore Today News Network

Bengaluru, Aug 30, 2025: The Karnataka High Court (HC) on Friday admitted a petition filed by fugitive businessman Vijay Mallya questioning loan recoveries by banks in excess of the outstanding dues, and scheduled the matter for hearing in September.

Mallya, along with Daljit Mahal, director of the now-bankrupt United Breweries Holdings Limited (UBHL), has sought directions for creditor banks to disclose the total loan amount, recoveries made so far, and properties already seized from UBHL and other associated borrower companies currently under insolvency proceedings.

The petition referred to the amended order of the Debt Recovery Tribunal (DRT) dated April 10, 2017, and requested a complete financial statement of the principal and interest outstanding.

Justice B M Shyam Prasad noted that the present plea and another writ petition (WP 3357/2025) involved similar issues. The petitioners highlighted that while the outstanding loan was Rs 6,200 crore, recoveries had already exceeded this figure. The finance minister had informed Parliament that Rs 14,000 crore was recovered, while the recovery officer placed the figure at Rs 10,200 crore—yet recovery proceedings continue.

Senior advocate Sajan Poovayya, representing the petitioners, pressed for a direction to banks to submit detailed accounts of recoveries.

After hearing the matter, the court issued notices to the recovery officers of the DRT, the State Bank of India, and nine other banks, and adjourned the case to September 15.