MUMBAI (Reuters) - Indian banks will take "every possible action" to recover the money owed by liquor baron Vijay Mallya's grounded carrier Kingfisher Airlines, Finance Minister Arun Jaitley told parliament on Thursday.
The carrier owed banks 90.91 billion rupees ($1.35 billion) including interest as of end-November, Jaitley said, responding to demands from the opposition Congress Party that the government make a statement.
"Banks are going to certainly take every possible action to recover not only from him but many other defaulters," he said.
Mallya, who is a guarantor to the Kingfisher loans, left India last week, a lawyer for the government told Supreme Court on Wednesday, asking the court to order his return.
($1 = 67.1100 Indian rupees)
(Reporting by Devidutta Tripathy and Rajesh Kumar Singh)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app