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Indian banks strongly advocate in UK court to declare Vijay Mallya bankrupt

London. & nbsp; A consortium of Indian banks led by the State Bank of India (SBI) on Friday pleaded strongly against the liquor businessman Vijay Mallya to be declared bankrupt during a hearing in the London High Court. Mallya owes thousands of crores of rupees owed to the closed Kingfisher Airlines.

In a virtual hearing before Judge Michael Briggs in the Chief Insolvency and Companies Court (ICC), the two sides made their final arguments in the case after amending the insolvency petition filed last year. Apart from SBI, this group of banks includes Bank of Baroda, Corporation Bank, Federal Bank Limited, IDBI Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of Mysore, UCO Bank, United Bank Of India and JM Financial Asset Reconstruction Company Private Limited. Judge Briggs stated that he would now consider the details and decide at the appropriate time in the coming weeks.

Let us know that Mallya is accused of willfully not repaying the bank loan of Rs 9,000 crore related to his bankrupt Kingfisher Airlines. Last month, Union Finance Minister Nirmala Sitharaman said in the Rajya Sabha that fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi are coming back to India to face the law. & Rsquo;

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