Vijay Mallya and UBHL director Daljit Mahal have moved the Karnataka High Court seeking detailed bank statements on recoveries made against their debts. The petition claims banks have already recovered far more than the Rs 6,200 crore directed by the DRT.
Bengaluru: On August 29, the Karnataka High Court has posted for September the petitions filed by fugitive businessman Vijay Mallya and Daljit Mahal, director of the now-liquidated United Breweries Holdings Limited (UBHL).
Both petitioners have approached the court asking for directions to various banks to give them detailed statements of accounts regarding recoveries made against their debts.
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In their plea, Mallya and Mahal have requested the banks to share complete records of the dues owed by them, UBHL, and other certificate debtors. They also want the accounts to clearly show the periodic interest charged, the credits for recoveries already made, and the details of the assets that were used to recover the debts.
This request comes after the Debts Recovery Tribunal (DRT) issued an amended recovery certificate on April 10, 2017.
When the matter came up before Justice B M Shyam Prasad, the court observed that the current petition and another—WP 3357/2025—involve similar issues. Senior Advocate Sajan Poovayya, who appeared on behalf of the petitioners, suggested that both petitions should be taken up together for hearing.
Accepting this, the judge directed advocate Chandrakant K Patil, who is already representing the respondents in the connected case, to accept notice on behalf of multiple respondents in the present matter as well. The High Court has now listed the petitions for further hearing on September 15.
Earlier, during submissions, Poovayya highlighted that the winding-up orders passed against Kingfisher Airlines and UBHL have already reached finality as they have been upheld by the Supreme Court.
He also told the court that substantial amounts have already been recovered from Vijay Mallya and his companies by the banks.
According to Poovayya, the DRT had earlier directed Kingfisher Airlines, as the principal debtor, and UBHL, as the guarantor, to pay Rs 6,200 crore.
He submitted,
“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,”
The petitioners have therefore asked the High Court to direct the banks to provide a full and transparent statement of the amounts recovered in their favour.
They have also sought that the statements should include details of who originally owned the assets that were sold or used to recover the debts.
In addition, they want the banks to disclose details of any assets belonging to them, UBHL, or even third parties that are still lying with the banks but have not yet been used to pay off the dues.
As part of their interim prayer, the petitioners have also asked the court to stay any further recovery proceedings. This includes stopping the banks from selling any fresh assets under the amended recovery certificate issued by the DRT in April 2017 until the matter is fully heard and decided.
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