In an affidavit filed in the top court through his lawyers, Mallya, calling himself the victim of a relentless media trial against him, urged the top court to intercede and give him the benefit of a fair and equitable determination of his financial liability over the failed airline venture.
He also urged the court to dismiss the proceedings filed against him by banks seeking his return to India to settle dues of over `. 9,000 crore. “...this court ought not to permit the petitioners to abuse the process for ulterior and oblique motives. The present proceedings are yet another step in the long litany of proceedings adopted to ensure that Kingfisher, UBHL and Respondent 3 (Mallya) are deprived of a full determination of the quantum alleged due to them by following the due process of law,“ his affidavit said.
Mallya, who named industrial houses that owed the banking system much more than he did, accused the banks of “unfairly“ slapping criminal cases against him over what he claimed was a genuine “commercial failure“. Although he had stood as a personal guarantee for the loans of Kingfisher, the quantum of his liability would have to be determined by a competent court.
Lok Sabha Elections#Elections With
- All
- Uttar Pradesh
- Maharashtra
- Tamil Nadu
- West Bengal
- Bihar
- Karnataka
- Andhra Pradesh
- Telangana
- Kerala
- Madhya Pradesh
- Rajasthan
- Delhi
- Other States
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the ET ePaper online.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the ET ePaper online.