Liquidator opposes banks-plea to sell confiscated Vijay Mallya properties

Consortium of banks led by SBI had filed an application before special court of MS Azmi here to liquidate Mallya's assets to recover Rs 6,203.35 crore with annual interest at 11.5% payable since 2013

The official liquidator appointed by the Karnataka High Court on Wednesday opposed a plea by banks to restore the confiscated properties of fugitive economic offender Vijay Mallya to them.
 

A consortium of banks led by State Bank had filed an application before the special court of MS Azmi here to liquidate Mallya's assets so that they can recover Rs 6,203.35 crore with annual interest at 11.5 percent payable since 2013.
 

Earlier, the Enforcement Directorate informed the special court that it has no objection to restoring Mallya's properties to the lenders if they gave an undertaking to return the money recovered