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Bank Money Gone as London refuses to deport Vijay Mallya

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Offline Sora

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Bank Money Gone as London refuses to deport Vijay Mallya
« on: May 11, 2016, 06:45:36 PM »

London refuses to deport Vijay Mallya in money laundering case. Indian bank are now having no option other than settling the dues as per the terms and condition given by Vijay Mallya.

Britain has made it very clear that it cannot deport Vijay Mallya, who is facing money laundering charges in the country, but could consider an extradition request for him. The process of extradition is very long.

The only option present in front of consortium of Indian banks lead by State Bank of India which extended loan to Kingfisher Airlines should initiate recovery measures by working on Mallya’s Rs 6,000 crore repayment offer made before the Supreme Court.

Vijay Mallya had offered to pay as much as Rs 6,000 crore as settlement out of the Rs 9,000 crore he owed to banks in dues for now-defunct Kingfisher Airlines Ltd.

Read for more@financialexpress


 

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