Industrialist Vijay Mallya, who owes more than Rs 9000 crore to a consortium of 17 banks, today submitted to the Supreme Court a repayment plan of Rs 4000 crore by September this year. The top court has asked the consortium led by the State Bank of India (SBI) to respond to the liquor baron's proposal.
Mallya's lawyer told the Supreme Court that he had two rounds of meeting through video conferencing with the banks after leaving India last month. "The media hype has vitiated the fair trail," he told the court from London.
In response, the banks are reported to have told the court that they need a week to look at the proposal. The consortium also said it would have been better if Mallya was in India.
Mallya's lawyer told the Supreme Court that he had two rounds of meeting through video conferencing with the banks after leaving India last month. "The media hype has vitiated the fair trail," he told the court from London.
In response, the banks are reported to have told the court that they need a week to look at the proposal. The consortium also said it would have been better if Mallya was in India.
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