HC to hear Vijay Mallya, UBHL director’s plea for bank account statements on debt recoveries

Bengaluru, Aug 29 (PTI) The Karnataka High Court on Friday listed for September the petitions filed by fugitive businessman Vijay Mallya and Daljit Mahal, director of the now-liquidated United Breweries Holdings Limited (UBHL) seeking bank account statements on debt recoveries.

The petitioners have sought directions to concerned banks to furnish a detailed statement of accounts showing the dues owed by them, UBHL, and other certificate debtors.

The plea calls for the statements to reflect periodic accrual of interest, credits for recoveries already made, and details of assets utilised, following the amended recovery certificate dated April 10, 2017, issued by the Debts Recovery Tribunal (DRT).

Hearing the matter, Justice B M Shyam Prasad noted that the present petition and another—WP 3357/2025—involve common issues. Senior Advocate Sajan Poovayya, appearing for the petitioners, suggested they be taken up together.

The court directed advocate Chandrakant K Patil, already representing respondents in the connected petition, to accept notice on behalf of multiple respondents in the present case as well. The petitions have been posted for further hearing on September 15.

During earlier submissions, Poovayya argued that winding-up orders against Kingfisher Airlines and UBHL had attained finality, having been upheld up to the Supreme Court. He contended that substantial recoveries had already been made from Mallya and his companies.

According to him, the DRT had directed payment of Rs 6,200 crore by Kingfisher Airlines, as the principal debtor, and UBHL as guarantor.

"That order attained finality. But since 2017, banks have recovered far in excess of that amount. As per records, Rs 10,200 crore has been realised, and even the official liquidator acknowledges that the banks have been restored. The Finance Minister has also stated in Parliament that recoveries have touched Rs 14,000 crore," he submitted.

The petitioners have requested that banks be directed to issue comprehensive statements of amounts recovered in their favour, with details of the original ownership of assets used to satisfy debts. They have further sought disclosure of assets belonging to them, UBHL, or third parties that remain with the banks but have not yet been utilised towards repayment.

As interim relief, the petition prayed for a stay on all further recovery proceedings, including any fresh sale of assets pursuant to the amended recovery certificate issued by the DRT in April 2017. PTI GMS GMS KH