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Decision will be fair to banking system on Mallya's assets, says SBI MD

Earlier on June 30, Mallya was summoned by a designated court under Fugitive Economic Offenders to appear before it on August 27

ANI  |  New Delhi 

Former Indian politician and billionaire businessman Vijay Mallya arrives for his extradition hearing at Westminster Magistrates Court in London
Liquor baron Vijay Mallya | File photo

(SBI) Managing Director Arijit Basu on Friday expressed confidence over the fair banking system in connection with liquor baron Vijay Mallya's assets which have been identified so far.

Basu's statement comes a day after Bangalore police through the Enforcement Directorate (ED) submitted a report before Delhi's Patiala House Court stating that they have identified 159 properties of liquor baron and United Breweries.

"Our aim is that we get the maximum; it can be a property, it can be other corporate assets. Exact figures of what have been recovered by and other banks will be told," Basu told ANI.

"Confident that final decision will be very fair to banking system," he added.

The Bangalore police had also sought more time to identify other additional properties.

Earlier on June 30, Mallya was summoned by a designated court under Fugitive Economic Offenders to appear before it on August 27. The notice was issued to Mallya and others in connection with ED's June 22 application for declaring him as a fugitive economic offender and to confiscate his properties.

Less than a week ago, Mallya broke his silence over the controversy surrounding him of defaulting on bank loans to the tune of Rs 90 billion.

The liquor baron, in a series of tweets, claimed that he had been falsely made the "poster boy of Bank default and a lightning rod of public anger".

He also reiterated that he is making every effort, in good faith to settle dues with the banks, but if politically-motivated factors interfere, there is nothing he can do.

The 62-year-old is facing a trial in a UK court in connection with his extradition to India. He is facing charges for financial irregularities involving a total amount of Rs 90 billion, as well as money laundering cases.

First Published: Fri, July 06 2018. 18:08 IST
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