Mallya should come back, negotiate with banks: Attorney General

Attorney General (AG) Mukul Rohatgi, who informed the Supreme Court that liquor baron Vijay Mallya has left the country on Wednesday, said that he was hopeful that the UB Group chairman would come back to India and settle the disputes with the banks.

"I hope he (Mallya) will come back to India, good sense should prevail, but if he doesn't come back, then there are ways and means of trying to force somebody to come back," Attorney Genral Rohtagi told ANI.

"It can be revocation of Indian Passport and once the passport is revoked the person has to come back because he has no right to stay in foreign country. It is a harsh thing and I don't think the matter should reach that point. It is in everyone's interest that things should be resolved between him and banks," he added.

When asked if the there was a need to change the policies of the Finance Ministry, Rohtagi said it was for the ministry to take a call.

"It is for the Finance Ministry to have a relook. I am sure that the RBI will have a look into it and the banks will also have a look into it. I think new policies should be made," he said.

The Supreme Court has issued a notice to Mallya on a plea filed by a consortium of 13 PSU banks headed by State Bank of India. The lenders had moved the apex court to prevent Mallya from leaving the country and impounding his passport even as the loan recovery procedure for Kingfisher Airlines is still on.

The notice will be served through the Indian High Commission in London. Based on CBI inputs, Attorney General Mukul Rohatgi, appearing for the banks, informed the Supreme Court that Mallya is likely to have left India on 2 March and could be in the UK.

The apex court has sought Mallya's response to the banks' plea by 30 March which is the next date of hearing.