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I am not an absconder, says VIjay Mallya

'I have been most pained at being painted as an absconder - I have neither the intention nor any reason to abscond'

BS Reporter  |  Mumbai 

Vijay Mallya, chairman of United Breweries (UB) group, has issued a statement to say banks already have securities worth Rs 2,500 crore against Rs 7,000 crore loans given to the now-defunct Kingfisher Airlines. Since the closure of the Kingfisher Airline in April 2013, the banks and their assignees have recovered Rs 1,244 crore in cash from the sale of pledged shares, Mallya stated.  In addition, Rs 600 crore was deposited in the Karnataka High Court in July 2013 and another Rs 650 crore belonging to United Breweries Holdings - the proceeds received by from the sale of shares ...

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First Published: Mon, March 07 2016. 10:39 IST
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