On Tuesday, 8th March 2016, 17 banks, including The SBI, The UBI, Axis Bank, and Federal Bank moved the Supreme Court to freeze liquor mogul Vijay Mallya’s passport, claiming that he owed over Rs 9,000 crore in debts to them. However, according to The Times of India, Mallya is believed to have already left for a foreign destination a few days ago.

Vijay Mallya

Picture Source  Vijay Mallya

The ex-owner of the now defunct Kingfisher Airlines had earlier expressed a desire to move to Britain to be closer to his children after his resignation as the chairman of United Spirits.

Vijay Mallya

 

Picture Source  Vijay Mallya

As per his settlement deal with British liquor major, Diageo, he was to receive an amount of $75 million or Rs 515 crore as a severance package for exiting United Spirits. Mallya has been reported to have already received the initial part of the settlement, $40 million and is to receive the remainder in instalments over the next 5 years.

Vijay Mallya

Picture Source  Vijay Mallya

The petitioners appealed The Debt Recovery Tribunal to freeze Mallya’s passport, issue an arrest warrant against him, restrain him from disbursing the amount he received from Diageo, and a court order to Mallya to disclose his entire assets on oath.

Vijay Mallya

The DRT, on Monday, directed Diageo to not pay the remaining amount to Mallya till the petition by The State Bank of India (SBI) is closed. Chief Justice TS Thakur also agreed to list the petition of the banks on Wednesday. Mallya has been declared a wilful defaulter and has an enormous debt of Rs 9,091 crore to the banks. The tribunal is set to hear the case next on March 28.

Vijay Mallya

Picture Source Vijay Mallya

Female employees of the Kingfisher Airlines have also accused the businessman of double standards by not paying local employees while honouring employees from foreign countries. An association of employees has also stated that they were unable to claim their Income Tax refunds and Provident Fund dues as the airline had not deposited any of the money deducted from its employees.

Picture Source

From being allegedly involved in money laundering to debt fraud, it seems the “King of Good Times” is in really deep shit this time!

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