Archive · 6 Nov 2025
Mallya Seeks Details of Seized Assets and Debt in HC Plea
Imagine a man named Vijay borrowed a lot of money from different banks.
He promised to pay it back, but he didn't and ran away from the country.
The banks took some of his belongings to get their money back.
Now, Vijay is asking the court to show him exactly what belongings they took and how much money they got from selling them.
He also thinks the banks shouldn't charge him extra money (interest) for the parts they've already sold.
The banks say he's a fugitive and shouldn't be asking for things when he hasn't faced the music in court.
The judge is listening to both sides and will decide what to do next.
Vijay Mallya filed a petition in the Karnataka High Court seeking details of assets seized by banks and the outstanding debt.
Mallya's petition also demands that banks stop charging interest on amounts already recovered.
Mallya's counsel claims that recovery proceedings have yielded over Rs 10,000 crore, exceeding the original debt and interest.
The High Court questioned the jurisdiction of a writ petition for financial details and Mallya's right to file it as a fugitive who has not appeared in court.
The banks' counsel argued that Mallya is a fugitive and should return to India to participate in legal proceedings, with the court adjourning the hearing to November 12 after directing the banks to file objections.
- Who
- Fugitive liquor baron Vijay Mallya and consortium of banks
- What
- Vijay Mallya filed a petition seeking details of seized assets and outstanding debt, and challenging the charging of interest on recovered amounts.
- When
- Tuesday, hearing adjourned to November 12
- Where
- Karnataka High Court
- Why
- Mallya claims that more than the owed amount has been recovered by banks and seeks an accounting of seized assets and an end to interest charges on recovered sums.
Vijay Mallya's Stance
Banks' Stance
Access to Financial Details
Vijay Mallya's Stance
Mallya, through his petition, seeks details of assets seized by banks related to his loan default and requests that interest no longer be charged on recovered amounts, as he claims more than the owed amount has been recovered.
Banks' Stance
The banks argue that Mallya has fled the country and become a fugitive, and should return to India to participate in the judicial process if he claims innocence. They have been directed to file objections to Mallya's petition.
Jurisdiction of Filing
Vijay Mallya's Stance
Mallya's counsel argues that filing a writ petition before the High Court is Mallya's constitutional right.
Banks' Stance
The High Court questioned why a petition was not filed before the company court and how financial details could be sought from banks through a writ petition.
Contempt of Court and Fugitive Status
Vijay Mallya's Stance
Mallya's petition seeks details of seized assets and outstanding debt.
Banks' Stance
The High Court noted Mallya's failure to appear before the Supreme Court in a contempt of court case and other national court proceedings, questioning his right to file a writ petition while being a fugitive.
- Petitioner
- Vijay Mallya
- Court
- Karnataka High Court
- Date of Hearing
- Tuesday (prior to November 12)
- Adjourned Date
- November 12
- Original Debt Amount
- Rs 6,203 crore (with interest at 11.5%)
- Amount Recovered (ED statement July 16, 2021)
- Rs 7,181 crore
- Amount Recovered (Recovery Proceedings)
- Rs 10,040 crore