Business Standard

No laxity in steps to stop Mallya from fleeing: SBI

IANS  |  New Delhi 

The State of (SBI), the lead lender to the now-defunct Airlines, on Friday denied reports of any laxity in moving the court to stop industrialist from fleeing abroad.

The said on Friday that a consortium of banks led by the SBI had met Dushyant Dave on February 28, 2016, for advice in the case. On Thursday, Dave went on record that he advised the SBI management to move the the next day and get Mallya's passport confiscated.

"The SBI denies that there has been any laxity on its part or its officials in dealing with loan default cases, including Airlines. The has been taking proactive and strong measures to recover the defaulted amounts," the lead said in a statement.

Mallya, who has been facing legal proceedings for defaulting on loans of over Rs 9,000 crore, left the country on March 2, 2016, while 13 banks from the consortium moved the court four days later to seek its intervention to prevent the liquor baron from leaving the country.

The SBI, as the of 17 banks, had moved the in Bengaluru in early March 2016 against the defaulting and had sought impounding of his passport.

is currently in where a court finished hearing on India's extradition case against him on Wednesday and is due to pronounce its verdict on December 10.

--IANS

bc-rv/tsb/bg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 14 2018. 21:16 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU