Vijay Mallya's United Spirits Diageo sold in 2012.
A court temporarily stopped today a $ 75 million to be paid
by spirits giant Diageo liquor baron Vijay Mallya, after he resigned as
chairman of the unit of Diageo United Spirits.
The court - the Court of debt recovery (DRT) - ruled in
favor of a group of creditor banks owed money by Mr. Mallya and Kingfisher
Airlines disappeared, and had argued that it had the "first right" to
pay out Rs 515 crore Diageo.
Kingfisher, which stopped flying more than three years ago,
had $ 1.4 billion or Rs 9,400 crore in debt from September 2013, according to
corporate documents of the time.
Mallya said in a statement on Sunday it was in talks with a
group of 17 banks for a settlement once the debt Kingfisher, adding he has no
plans to flee their creditors.
His considerable problems are expanding rapidly - a case of
money laundering was filed against him today by the Directorate of Enforcement
for allegedly sending abroad Rs 900 crore borrowed from a bank.
The court's decision is based on a request by the State Bank
of India or SBI, which owes Rs 1,600 crore by Kingfisher. SBI has also asked
the Karnataka High Court to stop Mallya, 60, and to suspend his passport.
In 2012, Mr. Mallya's United Spirits sold Diageo of Britain;
after months of acrimony, he agreed last month to resign the presidency and
board in the upper part of alcoholic beverages company in India.
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