(Image source from: Businesstoday.in)
Supreme Court to Hear Vijay Mallya's Plea Against ED:- Liquor baron Vijay Mallya went absconding from the country and is residing in UK after he owes Rs 9000 crores to Indian banks. The Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) filed various pleas against Vijay Mallya in the UK Court to extradite him back to the country. The Supreme Court today will hear a petition filed by Vijay Mallya against the proceedings that have been initiated by the ED to seize Vijay Mallya's Indian assets. Before this, Vijay Mallya made some sensational statements asking the Indian banks to take over the principal amounts that are borrowed from them.
Vijay Mallya called CBI and ED unreasonable with their movements. He said that the amount was borrowed for Kingfisher Airlines and it has nothing to do with his Indian assets. Vijay Mallya flew from India in 2016 and the UK Court is expected to reveal their decision about his extradition next month. On the other side, ED and CBI are in plans to seize other assets of Vijay Mallya in the country to recover the losses incurred for the banks.